The Malaysian ringgit came under pressure in Thursday's Asian session as the US dollar firmed and US Treasury yields climbed after the FOMC meeting. USD/MYR moved briefly above 4.10, but the move was orderly rather than disorderly, with no clear evidence of stress specific to Malaysia. OCBC's Christopher Wong sees supportive domestic fundamentals and believes the recent weakness could reverse as post-Fed market moves settle, although another rise in the dollar and yields would keep the currency cautious.
External pressure loses some force
Wong linked the decline to the simultaneous firming of the dollar and US Treasury yields. The pair's move above 4.10 did not look disorderly, and the available market picture showed no distinct Malaysia-specific strain. Overnight, the dollar and yields retreated from their highs, while oil also pulled back, which removed part of the pressure on the ringgit.
The near-term bias remains cautious if US yields and the dollar push higher again. Wong expects the post-Fed moves to become less disruptive as they settle. If that happens, the recent weakness has room to reverse because domestic fundamentals remain supportive.
Chart momentum stays positive, although RSI is stretched
On the daily chart, bullish momentum is still intact, but RSI has entered overbought territory. A failure to attract additional upside follow-through could send USD/MYR lower and allow it to close the earlier post-holiday gap. The chart identifies support at 4.0870 and 4.0730, with the latter marked as the 50 DMA. Resistance in the current area is at 4.10 and 4.12.
Live crude-oil snapshot adds context
Oil's softer tone is part of the backdrop behind the easing pressure. The live close-bell snapshot dated September 18, 2026 puts crude oil at $95.27, compared with a previous close of $101.91 and a 6.52% decline. The 52-week range is $54.98 to $119.48, and volume is 0.98x the 20-day average.
The technical picture is mixed. RSI (14) is 55, while MACD stands at 4.72 against a 4.26 signal and the histogram is 0.46, which is bullish. EMA20 is $94.33, EMA50 is $88.91 and EMA200 is $79.21; SMA50 is $86.30 and SMA200 is $80.65. The price remains in a long-term uptrend, with EMA50 above EMA200 forming a golden cross.
Bollinger (20,2) spans $77.53 to $107.65, with a midpoint of $92.59, and the price is inside the bands. ADX (14) reads 33, indicating a trend. The stochastic fast line is 49 and the signal line is 71. ATR (14) is 4.46, which can serve as a stop-loss buffer for daily volatility. The 20-day support is around $79.62, while resistance is around $106.75.
The pivot is $96.04. For entry, stop-loss and target planning, the first and second resistances are $97.24 and $99.22, while the first and second supports are $94.06 and $92.86. These levels come from the same current crude-oil snapshot.
Australian dollar and yen send different signals
During Friday's Asian session, AUD/USD remained above 0.7100 for a second consecutive day. Softer US bond yields reduced the immediate advantage for dollar buyers, while RBA Governor Bullock's hawkish remarks increased expectations of a rate increase and supported the Australian currency. The pair's upside was still restrained because the Fed maintained a hawkish stance and geopolitical uncertainty prevented a larger dollar decline.
USD/JPY turned upward again in Friday's European session, reaching two-week highs and moving close to 158.00. The yen continued to weaken even though a Bank of Japan rate increase to 1.25% was expected and Governor Kazuo Ueda sounded hawkish. Two unexpected dissents against the increase added to the yen's pressure.
Gold finds support as Japan shifts policy
Gold extended the improving tone seen later in the week, trading with solid gains slightly below $4,400 per troy ounce on Friday. Falling crude oil prices and renewed selling against the US dollar helped sustain the advance.
The Bank of Japan lifted its short-term interest-rate target from 1.00% to 1.25% in a 7-2 vote. The decision marked another step in monetary-policy normalization and broadly matched expectations that had been building for weeks. Governor Kazuo Ueda said the policy phase had changed.
What comes next for the ringgit
The ringgit's next move will depend heavily on whether the dollar and US yields stay off their highs. A renewed climb would make MYR trading cautious, while a settlement in post-Fed moves could allow the recent weakness to reverse, especially with domestic fundamentals still supportive.
