Published: 2025-07-09T04:38:00.000Z
Chart USD/MYR Update: Extending corrective gains
Technical Analyst
1
Extending bounce from the 4.1800 low as prices consolidate losses from the 4.2920 high of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.3350 | ** | 13 May high | S1 | 4.2050 | * | 26 May low | |
| R3 | 4.3100 | * | 19 May high | S2 | 4.1800 | ** | 1 Jul YTD low | |
| R2 | 4.2920 | ** | Jun high | S3 | 4.1650 | 3 Oct low | ||
| R1 | 4.2500 | * | congestion | S4 | 4.1500 | * | congestion |
Asterisk denotes strength of level
04:30 GMT - Extending bounce from the 4.1800 low as prices consolidate losses from the 4.2920 high of last week to reach resistance at the 4.2500 congestion. Break here will open up room for stronger correction of the April/July losses and see room to retest 4.2920, June high. Correction is expected to give way to renewed selling pressure later. Meanwhile, support is raised to 4.2050 ahead of 4.1900/4.1800 lows. Break of these will extend the broader losses from the January YTD high at 4.5165 and see room to the 4.1500 congestion.