Published at 00:54 (GMT) 04 Jul
04 Jul USD / MYR Daily
00::46 GMT - Opening break of 3.1937 strong support bodes well for bears with downside momentum to gain towards next target at 3.1800. Recovery from here expected to be shallow and seen as selling opportunity with resistance seen at 3.1975 ahead of 3.2018. [W.T]
R5: 3.2110 1 Jul high
R4: 3.2092 3 Jul high
R3: 3.2057 27 Jun low
R2: 3.2018 intraday level
R1: 3.1975 intraday level
S1: 3.1912 21 Nov low
S2: 3.1800 figure
S3: 3.1689 * 20 Nov low
S4: 3.1660 1 Nov low
S5: 3.1600 figure
Recommended Content
Editors’ Picks
AUD/USD remained bid above 0.6500
AUD/USD extended further its bullish performance, advancing for the fourth session in a row on Thursday, although a sustainable breakout of the key 200-day SMA at 0.6526 still remain elusive.
EUR/USD faces a minor resistance near at 1.0750
EUR/USD quickly left behind Wednesday’s small downtick and resumed its uptrend north of 1.0700 the figure, always on the back of the persistent sell-off in the US Dollar ahead of key PCE data on Friday.
Gold holds around $2,330 after dismal US data
Gold fell below $2,320 in the early American session as US yields shot higher after the data showed a significant increase in the US GDP price deflator in Q1. With safe-haven flows dominating the markets, however, XAU/USD reversed its direction and rose above $2,340.
Bitcoin price continues to get rejected from $65K resistance as SEC delays decision on spot BTC ETF options
Bitcoin (BTC) price has markets in disarray, provoking a broader market crash as it slumped to the $62,000 range on Thursday. Meanwhile, reverberations from spot BTC exchange-traded funds (ETFs) continue to influence the market.
US economy: slower growth with stronger inflation
The dollar strengthened, and stocks fell after statistical data from the US. The focus was on the preliminary estimate of GDP for the first quarter. Annualised quarterly growth came in at just 1.6%, down from the 2.5% and 3.4% previously forecast.