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USD/MYR Consolidating Recent Gains

MYR

USD/MYR prints at 4.6500/25, the pair is little changed from Monday's closing levels dealing in a narrow range on Tuesday.

  • The pair sits a touch off its highest level since mid-July as August's gains are consolidated in a narrow range. USD/MYR is up ~3.3% in August.
  • 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 (4.6061).
  • On the wires today we have Aug 15 Foreign Reserves, there is no estimate for the print and the prior read was $112.9bn.

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