Chart USD/MYR Update: Extending losses below 4.0000
Pressure remains firmly on the downside and break of 4.0000 figure see prices extending losses from the 2024 year high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.0760 | ** | 5 Jan high | S1 | 3.9700 | * | Jun 2018 low | |
| R3 | 4.0600 | * | congestion | S2 | 3.9500 | * | congestion | |
| R2 | 4.0330 | * | Dec 2025 year low | S3 | 3.9300 | * | congestion | |
| R1 | 4.0000 | * | figure | S4 | 3.9200 | * | congestion, Apr 2018 high |
Asterisk denotes strength of level
05:15 GMT - Pressure remains firmly on the downside and break of 4.0000 figure see prices extending losses from the 2024 year high to reach support at 3.9700, June 2018 low. Negative daily and weekly studies keep pressure firmly on the downside and lower still, will see room for extension to 3.9500/3.9300 congestion area. However, deep oversold daily and weekly studies caution corrective bounce. Meanwhile, resistance is lowered to the 4.0000 figure which is expected to cap. Regaining this will ease the downside pressure and see room for stronger corrective bounce to resistance at 4.0330 and 4.0600/4.0760 area.