Published: 2025-01-21T04:56:42.000Z
Chart USD/MYR Update: Under pressure, room for deeper pullback
Technical Analyst
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Consolidation around the 4.5000 level has given way to break lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.5500 | * | congestion | S1 | 4.4540 | * | 31 Dec low | |
| R3 | 4.5325 | * | 61.8% 2024 fall | S2 | 4.4400 | * | congestion | |
| R2 | 4.5165 | ** | 6 Jan YTD high | S3 | 4.4160 | ** | Dec low | |
| R1 | 4.5000 | * | congestion | S4 | 4.4000 | * | congestion |
Asterisk denotes strength of level
04:50 GMT - Consolidation around the 4.5000 level has given way to break lower to as prices unwind the overbought intraday studies. Daily studies have turned lower from overbought areas and suggest room for deeper pullback to retrace strong gains from the September low. Break of the 4.4850 support see room to for deeper pullback to the 4.4540 support and the 4.4400 congestion. Below these will turn focus to the December low at 4.4160. Meanwhile, resistance at the 4.5000 congestion now expected to cap and sustain losses from the 4.5165 high.