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USD/MYR Continues In Recent Ranges

MYR

USD/MYR continues to observe the narrow 4.63/70 range has persisted for the most part since early November, trading remains stable and moves have had little follow through.

  • In early dealing today the pair is a touch higher and last prints at 4.6735/60.
  • Bulls look to break the 20-Day EMA (4.6812) to target the 4.80 handle. Bears now target a break of the 200-Day EMA (4.6108) to re-establish a downtrend, a break of the measure opens the low from 31 Jul at 4.4957.
  • A reminder Fortnightly Foreign Reserves tomorrow provide the only data of note this week. There is no estimate and the prior read was $110.5bn.
  • Looking ahead, on Monday October Industrial Production is due. A rise of 2.5% Y/Y is expected.
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USD/MYR continues to observe the narrow 4.63/70 range has persisted for the most part since early November, trading remains stable and moves have had little follow through.

  • In early dealing today the pair is a touch higher and last prints at 4.6735/60.
  • Bulls look to break the 20-Day EMA (4.6812) to target the 4.80 handle. Bears now target a break of the 200-Day EMA (4.6108) to re-establish a downtrend, a break of the measure opens the low from 31 Jul at 4.4957.
  • A reminder Fortnightly Foreign Reserves tomorrow provide the only data of note this week. There is no estimate and the prior read was $110.5bn.
  • Looking ahead, on Monday October Industrial Production is due. A rise of 2.5% Y/Y is expected.