Published: 2025-05-07T04:03:15.000Z
Chart USD/MYR Update: Higher in range from 4.1900 low
Technical Analyst
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Higher in range from the 4.1900 as prices consolidate sharp losses from the 4.5050 high of April
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.3500 | * | congestion | S1 | 4.1900 | ** | 5 May YTD low | |
| R3 | 4.3260 | 2 May high | S2 | 4.1500 | * | congestion | ||
| R2 | 4.3000/70 | * | congestion, 30 Apr low | S3 | 4.1000 | ** | Sep 2024 year low | |
| R1 | 4.2500 | * | congestion | S4 | 4.0900 | * | Apr 2021 low |
Asterisk denotes strength of level
04:00 GMT - Higher in range from the 4.1900 as prices consolidate sharp losses from the 4.5050 high of April. Bounce see prices unwinding the oversold daily and weekly studies and caution corrective bounce. Resistance remains at the 4.2500 congestion and gains above here will open up room for stronger bounce to the 4.3000 congestion. Corrective gains are expected to give way to renewed selling pressure later and below the 4.1900 low will see room to the 4.1500 congestion then the 4.1000, September 2024 year low.