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USD/MYR Consolidating Gains, CPI On Tap

MYR

USD/MYR prints at 4.6515/40, the pair is a touch higher on Friday.

  • The pair sits a touch off its highest level since mid-July as August's gains are consolidated in a narrow range above the 4.65 handle. We sit ~3.2% above the opening levels from Aug 1.
  • Bulls target the high from 26 June (4.6915), a break through here opens the high from Nov 4 2022 (4.7495). Bears first target the 20-Day EMA (4.6180).
  • On tap today we have July CPI, which crosses in just under 1 hour, a downtick in CPI to 2.1% Y/Y is expected.

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