Published: 2024-10-29T03:37:07.000Z
Chart USD/MYR Update: Extending gains from the September low
Technical Analyst
1
Pressure remains on the upside and break above the 4.3500 level further extend strong run-up from the 4.1000, September low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.4500 | * | 50% Feb/Sep fall | S1 | 4.3370 | * | 25 Oct low | |
| R3 | 4.4000 | ** | 5 Aug low | S2 | 4.3000 | ** | congestion | |
| R2 | 4.3800 | * | Sep high | S3 | 4.2720 | * | 19 Sep high | |
| R1 | 4.3660 | * | 38.2% Feb/Sep fall | S4 | 4.2500 | * | figure |
Asterisk denotes strength of level
03:30 GMT - Pressure remains on the upside and break above the 4.3500 level further extend strong run-up from the 4.1000, September low. Gains now pressuring the 4.3660, 38.2% Fibonacci retracement, and break here will see room to the 4.3800 level and the 4.4000 figure. Beyond this, if seen, will see scope to the 4.4500, 50% Fibonacci retracement. Meanwhile, support is raised to the 4.3370 level then the 4.3000 congestion. Would take break of the latter to return focus to the downside and see deeper pullback to support at 4.2720 then the 4.2500 level.