Published: 2025-03-06T05:38:56.000Z
Chart USD/MYR Update: Leaning lower in choppy trade
Technical Analyst
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Leaning lower from the 4.4700 high to retest the 4.4170 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.5000 | ** | 3 Feb high | S1 | 4.3950 | * | Feb low | |
| R3 | 4.4880 | * | Nov high | S2 | 4.3720 | ** | 27 Jan YTD low | |
| R2 | 4.4700 | ** | 4 Mar high | S3 | 4.3400 | * | 5 Nov low | |
| R1 | 4.4500 | * | congestion | S4 | 4.3080 | * | 50% Sep/Jan rally |
Asterisk denotes strength of level
05:30 GMT - Leaning lower from the 4.4700 high to retest the 4.4170 support. Daily studies have turn down from overbought readings and suggest scope for break here to expose the February low at 4.3950 to retest. Below this will return focus to the 4.3720 January YTD low and extend losses from the January high. Lower will see scope to 4.3400 support and 4.3080, 50% Fibonacci level. Meanwhile, resistance is lowered to the 4.4500 congestion which is expected to cap and sustain losses from the 4.4700 high.