Chart USD/MXN Update: Extending choppy trade - background studies positive
Little change, as prices extend choppy trade within the broad 18.5000 - 19.0000 range
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 19.5000 | ** | congestion | S1 | 18.5000 | ** | congestion | |
| R3 | 19.3260 | * | late-Jun 25 (w) high | S2 | 18.3500 | * | congestion | |
| R2 | 19.0725 | ** | 50% ret of 2025-2026 fall | S3 | 18.2100 | * | congestion | |
| R1 | 19.0000 | ** | congestion | S4 | 18.000 | ** | congestion |
Asterisk denotes strength of level
17:15 BST - Little change, as prices extend choppy trade within the broad 18.5000 - 19.0000 range. Daily studies are mixed/negative and overbought weekly stochastics are ticking lower, suggesting potential for a test below congestion support at 18.5000. But the positive weekly Tension Indicator and rising longer-term readings should limit scope in renewed buying interest above further congestion around 18.3500. A close beneath here, if seen, will add weight to sentiment and prompt a deeper retracement towards 18.0000.
Meanwhile, resistance is at congestion around 19.0000 and extends to the 19.0725 Fibonacci retracement. A later close above here will turn sentiment positive and extend September gains towards congestion around 19.5000.