Thursday, October 15, 2026

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FxWirePro: Malaysian ringgit hits fresh 7 –month high against US dollar, intraday bias remains bearish

Pair is currently trading around 3.9420 marks. It made intraday high at 3.9955 and low at 3.9400 levels. Intraday bias remains bearish till the time pair holds key resistance at 4.0086. A sustained break above key resist…

By Cynthia Firey Eakin
1 min read
FxWirePro: Malaysian ringgit hits fresh 7 –month high against US dollar, intraday bias remains bearish
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  • Pair is currently trading around 3.9420 marks.
     
  • It made intraday high at 3.9955 and low at 3.9400 levels.
     
  • Intraday bias remains bearish till the time pair holds key resistance at 4.0086.
     
  • A sustained break above key resistance will drag the parity towards 4.0214/4.0640/4.0933 marks.
     
  • Alternatively, reversal from key resistance will drag the parity down around 3.9136 levels.

We prefer to take short position in USD/MYR around 3.9505, stop loss 4.0086 and target 3.9136 marks.

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By FxWirePro Team