Published: 2025-04-14T05:10:42.000Z
Chart USD/MYR Update: Room for deeper pullback
Technical Analyst
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Prices remain under pressure following rejection from the 4.5050 high last week
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.5165 | ** | 6 Jan YTD high | S1 | 4.4160/00 | * | Mar lows | |
| R3 | 4.5000/50 | ** | Feb, 9 Apr highs | S2 | 4.3950 | * | Feb low | |
| R2 | 4.4700 | * | Mar high | S3 | 4.3720 | ** | 27 Jan YTD low | |
| R1 | 4.4500 | * | congestion | S4 | 4.3575 | ** | 38.2% Sep/Jan rally |
Asterisk denotes strength of level
05:05 GMT - Prices remain under pressure following rejection from the 4.5050 high last week to reach the 4.4160/4.4100 support. Both the daily and weekly studies tracking lower and suggest scope for break here to retest of the 4.3950 February low. Below the latter will return focus to the January low at 4.3720 and see scope for deeper pullback to retrace the September/January rally. Meanwhile, resistance at the 4.4500/4.4700 congestion and March high is expected to cap and sustain losses from the 4.5050 high.