Today's CNY to MYR Price Update

Summary

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

Definition

The Chinese Yuan (CNY) is a major fiat currency and serves as the foundation of China’s economy, while the Malaysian Ringgit (MYR) is the official currency of Malaysia. The exchange rate between them reflects bilateral trade dynamics and investor confidence in both currencies’ stability.

Today’s Price

• 1 CNY = 0.569 MYR
• 24h High: 0.56729 MYR
• 24h Low: 0.56413 MYR

Market Analysis

Recently, the CNY/MYR exchange rate has been influenced by trade relations between China and Malaysia, as China remains Malaysia’s top import and export trading partner. The pair is showing bearish technical signals.

• Technical levels: Key resistance at 0.66, with technical indicators suggesting potential downside pressure
• Risk note: The pair exhibits bear divergence on RSI and MACD on the weekly timeframe, with multiple rejections above 0.66 in recent months. Monthly MACD has crossed bearish, indicating downward momentum
• Trading opportunities: Monitor for potential continuation of the downtrend with support levels to watch below current prices

Conclusion

Continue to monitor the CNY/MYR pair closely, integrating technical analysis with bilateral trade dynamics. Pay attention to key resistance and support levels as they may present trading opportunities in the current bearish environment.