Published: 2025-02-27T05:04:21.000Z
Chart USD/MYR Update: Higher in consolidation from 4.4000 level
Technical Analyst
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Turned up from the 4.4000 level to open up room for retest of the 4.4540 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.5000 | ** | 3 Feb high | S1 | 4.4000 | * | figure, congestion | |
| R3 | 4.4880 | * | Nov high | S2 | 4.3720 | ** | 27 Jan YTD low | |
| R2 | 4.4745 | * | 10 Feb high | S3 | 4.3400 | * | 5 Nov low | |
| R1 | 4.4540 | * | 31 Dec low | S4 | 4.3080 | * | 50% Sep/Jan rally |
Asterisk denotes strength of level
05:00 GMT - Turned up from the 4.4000 level to open up room for retest of the 4.4540 resistance. Both the daily and weekly studies have turned up from oversold areas and see scope for break here to open up room to strong resistance at the 4.4880/4.5000 resistance. Gains are seen corrective and lower high sought to further pressure the downside later. Support is raised to the 4.4000 congestion and break here will expose the 4.3720 low to retest. Below the latter will see deeper pullback to retrace the Spetember/January rally and see scope to 4.3400 support and 4.3080, 50% Fibonacci level.