Ringgit has Strengthened Against the Greenback at RM4.63
The FBM KLCI eased marginally to below the 1,455 mark amid a lacklustre day. Though we noticed some accumulation from foreign funds, ongoing selling by local institutions capped the index performance. Whether the index can test the 1,500 level over the last 4 trading days in 2023 remains to be seen.
Meanwhile, it is heartwarming to see that the Ringgit has strengthened against the greenback at RM4.63 or a 4-month high. We anticipate the benchmark index to trend within the 1,450-1,460 range for today.
Ringgit vs Dollar
“We noticed some accumulation from foreign funds, ongoing selling by local institutions capped the index performance.
“Meanwhile, it is heartening to see that the Ringgit has strengthened against the greenback at RM4.63 or a 4-month high,” says Rakuten.
Technical View : EWEIN (7249)
- Resistance levels are identified at RM1.37(R1) and RM1.45 (R2). Support levels are pegged at RM1.21 (S1) and RM1.15 (S2).