# Chart Book | Chart of the day: Malaysian ringgit on way to basing | South China Morning Post

> A South China Morning Post chart analysis says the ringgit is nearing a base after falling from about 4.47 per US dollar in 2015-16 and 2017-18. The currency is near Fibonacci 38% retracement support and looks oversold. The analysis expects it to consolidate around 3.85 per dollar.

- Date: 2018-04-09 · published 2018-04-09T12:00:00.000Z
- Category: market · region Malaysia · magnitude low
- Page: https://feedsoft.ai/events/65779-chart-book-chart-of-the-day-malaysian-ringgit-on-way-to-basing-south-china
- Commodities: [Malaysian Ringgit (MYR per USD)](https://feedsoft.ai/c/USDMYR.md)

## Why it matters

This is routine technical commentary on the ringgit with no new fundamental driver. It has little bearing on feed or grain prices.

## Read by commodity

- USDMYR: neutral

## Sources

- scmp.com: https://www.scmp.com/business/markets/article/2140817/chart-day-malaysian-ringgit-way-basing

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.