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Spot USD/MYR Pierces 50-DMA For First Time Since Aug 27

MYR

Overnight impetus linked to above-forecast U.S. CPI print has lent support to spot USD/MYR in early trade, pushing the rate above its 50-DMA. The pair last sits +120 pips at MYR4.1652, with bulls looking for a break above Oct 18 high of MYR4.1720. The next layer of resistance above is provided by the 100-DMA at MYR4.1817. Bears need a pullback under Nov 9 low of MYR4.1485 before targeting the 200-DMA/Oct 29 low at MYR4.1406/4.1392.

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