Published: 2025-05-23T03:03:01.000Z
Chart USD/MYR Update: Consolidating, room for lower later
Technical Analyst
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Consolidating test of the 4.2500 support but this is expected to give way to break lower
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.3720 | ** | Jan low | S1 | 4.2500 | * | congestion | |
| R3 | 4.3350 | ** | 13 May high | S2 | 4.2000 | * | figure | |
| R2 | 4.3000 | * | congestion | S3 | 4.1900 | ** | 5 May YTD low | |
| R1 | 4.2720 | 22 May high | S4 | 4.1680 | 3 Oct low |
Asterisk denotes strength of level
03:00 GMT - Consolidating test of the 4.2500 support but this is expected to give way to break lower to extend rejection from the 4.3350 high. Negative intraday and daily studies weighs and lower will see scope for extension to the 4.2000 figure then the 4.1900, 5 May current year low. Below the latter will turn focus to the 4.1000, September 2024 year low. Meanwhile, resistance is lowered to the 4.2720 which extend to the 4.3000 congestion. This area is expected to cap and sustain losses from the 4.3350 corrective high.