Published: 2025-07-03T04:23:25.000Z
Chart USD/MYR Update: Turned up in consolidation from 4.1800, current year low
Technical Analyst
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Turned up from fresh year low at 4.1800 as prices consolidate losses from the 4.2920 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.3350 | ** | 13 May high | S1 | 4.2050 | * | 26 May low | |
| R3 | 4.3100 | * | 19 May high | S2 | 4.1800 | ** | 1 Jul YTD low | |
| R2 | 4.2920 | ** | 23 Jun high | S3 | 4.1650 | 3 Oct low | ||
| R1 | 4.2500 | * | congestion | S4 | 4.1500 | * | congestion |
Asterisk denotes strength of level
04:15 GMT - Turned up from fresh year low at 4.1800 as prices consolidate losses from the 4.2920 high of last week and unwind oversold intraday and daily studies. Bearish price action suggest gains likely to be shallow with resistance at the 4.2500 congestion expected to cap. Correction expected to give way to renewed selling pressure later and break of 4.1800 low will extend the broader losses from the January YTD high at 4.5165 and see room to the 4.1500 congestion. Lower still, will return focus to the 4.1000, September 2024 year low.