Published: 2025-03-25T07:01:51.000Z
Chart USD/MYR Update: Extend choppy trade within 4.4500/4.4000 range
Technical Analyst
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Remains in consolidation as prices extend choppy trade within the 4.4500/4.4000 range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.5000 | ** | Feb high | S1 | 4.4100 | * | 11 Mar low | |
| R3 | 4.4880 | * | Nov high | S2 | 4.4000 | * | congestion | |
| R2 | 4.4700 | ** | 4 Mar high | S3 | 4.3720 | ** | 27 Jan YTD low | |
| R1 | 4.4500 | * | congestion | S4 | 4.3400 | * | 5 Nov low |
Asterisk denotes strength of level
07:00 GMT - Remains in consolidation as prices extend choppy trade within the 4.4500/4.4000 range but leaning lower below the 200-day MA. Break of the 4.4000 congestion will expose the 4.3720 January YTD low to retest. Break of the latter will see room for deeper pullback to retrace the September/January rally. Lower will scope to 4.3400 support then 4.3080, 50% Fibonacci level. Meanwhile, resistance at the 4.4500/4.4700 congestion is expected to cap and sustain losses from the 4.5000, February high.