Chart USD/MYR Update: Drifting around 4.0800 level
Continues to drift within a narrow range around the 4.0800 level above support at the 4.0750 congestion
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.1150 | * | congestion | S1 | 4.0750 | * | congestion | |
| R3 | 4.0985 | ** | Sep high | S2 | 4.0650 | ** | Jul low | |
| R2 | 4.0950 | ** | Jul high, congestion | S3 | 4.0600 | * | congestion | |
| R1 | 4.0915 | * | 8 Oct high | S4 | 4.0450 | ** | 2 Sep high |
Asterisk denotes strength of level
03:10 GMT - Continues to drift within a narrow range around the 4.0800 level above support at the 4.0750 congestion. Daily studies remains mixed at oversold areas and suggest further sideways ranging action likely to extend. Would take break of the 4.0750 support to open up room for deeper pullback to the 4.0650/4.0600 area. Meanwhile, resistance remains at the 4.0915 high of 8 October. Would take break here to open up room for retest of resistance at the 4.0950/4.0985, July/September highs. Gains beyond these, if seen, will further retrace the June/September losses to the 4.1000 figure and 4.1150 congestion.