Today's MYR to CNY Price Update

Summary

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

Definition

The Malaysian Ringgit (MYR) and Chinese Yuan (CNY) are important fiat currencies in Southeast Asia and China respectively. The exchange rate between them reflects market sentiment toward regional economic conditions and bilateral trade dynamics between Malaysia and China.

Today’s Price

• 1 MYR = 1.73 CNY
• 24h High: 1.735 CNY
• 24h Low: 1.7282 CNY

Market Analysis

Recently, MYR/CNY has been in a downtrend since late 2020, with the price declining steadily.

• Technical indicators: The 14-day RSI for MYR/CNY stands at 48.763, suggesting neutral market conditions. The pair could potentially continue its downtrend with the next support level as a key focus point.
• Volatility: 30-day volatility remains relatively modest at 0.32%
• Trading opportunities: Monitor the support levels as potential entry points for contrarian traders, while downtrend confirmation may offer opportunities for trend-following strategies.

Conclusion

Continue to monitor the MYR/CNY pair closely, integrating technical support and resistance levels with broader regional economic trends. Traders should remain vigilant regarding the pair’s established downtrend pattern and watch for potential reversal signals at key support levels.