Published: 2025-06-13T04:06:04.000Z
Chart USD/MYR Update: Extend consolidation above 4.2050 low
Technical Analyst
1
Edged up from the 4.2170 low as prices extend consolidation above the 4.2050, 26 May low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.3350 | ** | 13 May high | S1 | 4.2050 | * | 26 May low | |
| R3 | 4.3000 | * | congestion | S2 | 4.1900 | ** | 5 May YTD low | |
| R2 | 4.2670 | 16 May low | S3 | 4.1500 | * | congestion | ||
| R1 | 4.2500 | * | congestion | S4 | 4.1000 | ** | 30 Sep 2024 year low |
Asterisk denotes strength of level
04:00 GMT - Edged up from the 4.2170 low as prices extend consolidation above the 4.2050, 26 May low. Daily studies are unwinding oversold readings and above the 4.2500 congestion will see room for stronger bounce to resistance at 4.2670 then the 4.3000 congestion. Corrective gains are expected to give way to renewed selling pressure later to retest 4.2170/7.2050 lows. Below these will expose the 4.1900, 5 May YTD low to retest. Break here will extend the January losses and see room to support at 4.1500 congestion then the 4.1000, 2024 year low.