Published: 2026-05-15T04:07:11.000Z
Chart USD/MYR Update: Extending bounce from 3.9070 low
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Extending bounce from the 3.9070 low of last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.0200 | * | congestion | S1 | 3.9070 | * | 7 May low | |
| R3 | 4.0000 | * | figure | S2 | 3.8820 | ** | 26 Feb YTD low | |
| R2 | 3.9680 | * | 9 Mar high | S3 | 3.8680 | * | Jan 2018 low | |
| R1 | 3.9400 | ** | Apr low | S4 | 3.8560 | ** | Apr 2018 year low |
Asterisk denotes strength of level
04:05 GMT - Extending bounce from the 3.9070 low of last week as prices unwind oversold intraday and daily studies. Bounce see resistance at the 3.9400/3.9500 April low and congestion area. Regaining this, if seen, will open up room for stronger corrective bounce to retrace losses from the 4.0460 March high to resistance at 3.9680. However, corrective gains are expected to give way to renewed selling pressure later and break of the 3.9070 low and 3.9000 level will expose the 3.8820 February current year low to retest. Below this will see scope to further extend the broader losses from the February 2024 year high.