Today's MYR to USD Price Update

2025-12-24 10:00:13

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Summary

This report provides the real-time exchange rate between the Malaysian Ringgit (MYR) and the U.S. Dollar (USD), helping traders quickly grasp market dynamics and identify potential trading opportunities.

Definition

The U.S. Dollar (USD) is one of the world’s most dominant fiat currencies, while the Malaysian Ringgit (MYR) is the official currency of Malaysia. The exchange rate between them reflects market sentiment toward the Malaysian economy and broader currency market dynamics.

Today’s Price

1 MYR = 0.246 USD
24h High: 0.24728 USD
24h Low: 0.24591 USD

Market Analysis

Recent MYR/USD price movement shows mixed technical signals with a relatively narrow trading range.

Technical levels: Key support identified around 4.23 (in USD/MYR terms), with resistance at 4.25–4.27
Technical indicators: The 14-day RSI stands at 72.427, suggesting overbought conditions. Moving averages display a Strong Sell outlook with 12 Sell signals against 0 Buy signals
Chart patterns: USD/MYR is forming a large inverse head & shoulders pattern since 2022, following a bull flag breakout that year
Trading opportunities: Monitor the current support and resistance levels for potential breakout opportunities; watch for mean reversion given the overbought RSI reading

Conclusion

Continue to monitor the MYR/USD pair closely, integrating technical indicators with chart pattern analysis. Traders should remain alert to potential reversals near key support and resistance zones while considering the broader inverse head & shoulders pattern formation for medium-term directional bias.

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