Published: 2025-05-20T03:05:26.000Z
Chart USD/MYR Update: Consolidating, lower later
Technical Analyst
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Turned up in consolidation from the 4.2670 low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.4000 | * | congestion | S1 | 4.2670 | 16 May low | ||
| R3 | 4.3720 | ** | Jan low | S2 | 4.2500 | * | congestion | |
| R2 | 4.3350 | ** | 13 May high | S3 | 4.2000 | * | figure | |
| R1 | 4.3000 | * | congestion | S4 | 4.1900 | ** | 5 May YTD low |
Asterisk denotes strength of level
04:00 GMT - Turned up in consolidation from the 4.2670 low of last week but this is expected to give way to break lower to extend rejection from the 4.3350 high. Negative daily studies weighs and lower will see scope for extension to the 4.2500 level. Lower still, will open up see room to the 4.2000 figure then the 4.1900, 5 May current year low. Meanwhile, resistance is lowered to the 4.3000 congestion which is expected to cap and sustain losses from the 4.3350 corrective high.