Published: 2025-04-04T04:25:24.000Z
Chart USD/MYR Update: Extending rejection from 4.4780 high
Technical Analyst
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Extending rejection from the 4.4780 high to retest support at the 4.4160/4.4100 lows
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.5000 | ** | Feb high | S1 | 4.4160/00 | * | 21/11 Mar lows | |
| R3 | 4.4880 | * | Nov high | S2 | 4.4000 | * | congestion | |
| R2 | 4.4780 | ** | 3 Apr high | S3 | 4.3720 | ** | 27 Jan YTD low | |
| R1 | 4.4500 | * | congestion | S4 | 4.3400 | * | 5 Nov low |
Asterisk denotes strength of level
04:20 GMT - Extending rejection from the 4.4780 high to retest support at the 4.4160/4.4100 lows. Daily studies are unwinding overbought readings and suggest scope for break here to retest the 4.4000 congestion. Below the latter will expose the 4.3720 the January current year low to retest. Break of the latter will extend the losses from the January high to retrace gains from the 4.1000, September low. Meanwhile, resistance is lowered to the 4.4500 congestion which should cap and sustain losses from the 4.4780 high.