Published: 2025-11-19T06:08:19.000Z
Chart USD/MYR Update: Consolidating, room to extend corrective bounce later
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Settled back in consolidation after bounce from the 4.1240 low of last week met with selling pressure beneath the 4.1800 resistance
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.2100 | * | May trendline | S1 | 4.1500 | * | congestion | |
| R3 | 4.2000 | * | congestion | S2 | 4.1240/00 | ** | 14 Nov YTD low, congestion | |
| R2 | 4.1900 | ** | May low | S3 | 4.1000 | ** | Sep 2024 year low | |
| R1 | 4.1800 | ** | Jul low | S4 | 4.0900 | * | Apr 2021 low |
Asterisk denotes strength of level
06:00 GMT - Settled back in consolidation after bounce from the 4.1240 low of last week met with selling pressure beneath the 4.1800 resistance. However, positive daily studies suggest consolidation around the 4.1500 level expected to give way to stronger correction later to strong resistance at the 4.1800/4.1900 area. Break here, if seen, will open up room for stronger gains to the 4.2000 congestion and the May trendline at 4.2100. Corrective gains are expected to give way to fresh selling pressure later to retest the 4.1240 low.