MYR-CNY has been in a downtrend since late 2020, with the price declining steadily.
It could potentially continue its downtrend, with the next support level around 1.55
China is currently Malaysia's top import and export trading partner.
Personal opinion, not financial advice.
CNY/MYR looks set to dive out of a two-year ascending channel
1. Bear divergence of RSI and MACD on weekly timeframe.
2. Multiple rejections above 0.66 in recent months.
3. Monthly MACD crossing bearish.
