Published: 2025-08-01T05:37:28.000Z
Chart USD/MYR Update: Extending gains
Technical Analyst
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Sharply higher through the 4.2500/80 resistance to extend bounce from the 4.2100 low
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 4.3500 | * | congestion | S1 | 4.2580 | * | 11 Jul high | |
| R3 | 4.3350 | ** | May high | S2 | 4.2100 | * | 25 Jul low | |
| R2 | 4.3000 | * | congestion | S3 | 4.1800 | ** | 1 Jul YTD low | |
| R1 | 4.2920 | ** | Jun high | S4 | 4.1500 | * | congestion |
Asterisk denotes strength of level
05:30 GMT - Sharply higher through the 4.2500/80 resistance to extend bounce from the 4.2100 low and return focus to the 4.2920, June high. Clearance here will further retrace the January/July losses and see room to 4.3000 level then the strong resistance at 4.3350, May swing high. Would expect reaction at the latter and only clearance will open up room to 4.3500 congestion. Meanwhile, support is at the 4.2580/4.2500 area which should underpin and sustain bounce from the 4.2100 low of last week.