Today's SAR to MYR Price Update

Summary

This report provides the real-time exchange rate between the Saudi Riyal (SAR) and Malaysian Ringgit (MYR), helping traders quickly grasp market dynamics and identify potential trading opportunities.

Definition

The Saudi Riyal (SAR) is the official currency of Saudi Arabia, while the Malaysian Ringgit (MYR) is the legal tender of Malaysia. The exchange rate between them reflects the relative economic strength of both nations and serves as an important indicator for bilateral trade and cross-border investment flows in the Middle East and Southeast Asia regions.

Today’s Price

• 1 SAR = 1.0819 MYR
• 24h High: 1.0824 MYR
• 24h Low: 1.0786 MYR

Market Analysis

The SAR/MYR pair is currently trading near support levels with moderate volatility. Technical indicators suggest the pair is in a buy phase.

• Technical indicators: The 14-day Relative Strength Index (RSI) stands at 64.035, indicating a buy signal. The 30-day average is 1.0858 MYR
• Key support: Close to support accumulation phases; resistance noted on the upside
• Short-term forecast: Within one week, SAR/MYR may stabilize around 1.0819 MYR; within four weeks, analytical forecasts suggest a potential decline to 1.0585 MYR
• Risk note: The pair is forecasted to decrease by approximately -1.51% over the next month, potentially dropping to 1.06 MYR

Conclusion

Continue monitoring the SAR/MYR pair closely, combining technical analysis with fundamental economic indicators. Traders should remain alert to potential downside pressure over the medium term while observing current support levels for near-term trading opportunities.