Published: 2025-05-20T08:02:18.000Z
Chart USD/MXN Update: Extending April losses
Senior Technical Strategist
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Consolidation above the 19.3000 low of last week has given way to break to extend losses from the 21.0800, April high
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 19.8500 | ** | Mar low | S1 | 19.2500 | * | congestion | |
| R3 | 19.7800 | * | 6 May high | S2 | 19.2000 | * | congestion | |
| R2 | 19.7000 | * | congestion | S3 | 19.0600 | * | Sep low | |
| R1 | 19.5000 | * | congestion | S4 | 19.0000 | ** | congestion |
Asterisk denotes strength of level
07:50 GMT - Consolidation above the 19.3000 low of last week has given way to break to extend losses from the 21.0800, April high. Nearby see room to support at the 19.2500/19.2000 congestion area. Break of these will see room for extension to the 19.0600 low of September then the 19.0000 figure. However, oversold daily and weekly studies caution corrective bounce but upside likely to remain limited below the congestive resistance at 19.5000. Above the latter, if seen, will give way to stronger recovery to the 19.7000/19.7800 area.