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USD/MYR Supported Below 4.60 In Early Dealing

MYR

The Ringgit briefly firmed in early dealing, USD/MYR fell below 4.60 handle however the move did not follow through and the Ringgit now sits a touch weaker on the day

  • USD/MYR prints at 4.6170/4.6200, the pair is ~0.2% firmer than opening levels and well within recent ranges.
  • Technically the uptrend remains in place, bulls now target the high from 26 May at 4.6398 a break through here open 4.70. Bears first look to break the 20-Day EMA (4.5911) to turn the tide.
  • Looking ahead the data calendar is empty until Tuesday when May Trade Balance crosses. However next week is highlighted by the May CPI print on Friday.

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