MYR/INR Technical Analysis

The Ringgit has been traded low against the Indian Rupee this Friday, but this down move seems to be temporary. The market is trying to anticipate the interest rate decision for the Rupee, due later today. The interest rate is expected to be left unchanged, but the market is always apprehensive around these decisions. If the Indian interest rate does not change, in the next week, the Ringgit has the potential to gain even more strength against the Rupee and it could reach the 18.30 level within a few days.