Published: 2025-03-13T05:52:28.000Z
Chart USD/MYR Update: Extend consolidation above 4.4000/4.3950 support
Technical Analyst
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Little change, as prices extend consolidation above the 4.4000/4.3950 support and February low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.5000 | ** | 3 Feb high | S1 | 4.3950 | * | Feb low | |
| R3 | 4.4880 | * | Nov high | S2 | 4.3720 | ** | 27 Jan YTD low | |
| R2 | 4.4700 | ** | 4 Mar high | S3 | 4.3400 | * | 5 Nov low | |
| R1 | 4.4500 | * | congestion | S4 | 4.3080 | * | 50% Sep/Jan rally |
Asterisk denotes strength of level
05:45 GMT - Little change, as prices extend consolidation above the 4.4000/4.3950 support and February low. Choppy trade from the January high see prices keeping below the falling 200-day MA and suggest eventual break of the 4.3950 support. Below this will open up the January YTD low at 4.3720 to retest. Break here will see room for deeper pullback to retrace the September/January rally and see scope to 4.3400 support and 4.3080, 50% Fibonacci level. Meanwhile, resistance is lowered to the 4.4500/4.4700 congestion which is expected to cap.