Chart USD/MXN Update: Choppy beneath year highs - background studies positive
Anticipated gains have posted a fresh year high above resistance at congestion around 18.5000 and the 18.5500 Fibonacci retracement
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 18.7675 | ** | 5 November 2025 (m) high | S1 | 18.3500 | * | congestion | |
| R3 | 18.6000 | ** | congestion | S2 | 18.2100 | * | congestion | |
| R2 | 18.5500 | ** | 38.2% ret of 2025-2026 fall | S3 | 18.1000 | * | congestion | |
| R1 | 18.5000 | ** | congestion | S4 | 18.0000 | ** | congestion |
Asterisk denotes strength of level
16:50 BST - Anticipated gains have posted a fresh year high above resistance at congestion around 18.5000 and the 18.5500 Fibonacci retracement, before settling into choppy trade beneath here. Daily readings are bearish, highlighting room for a test below congestion support at 18.3500. But already oversold daily stochastics and improving longer-term charts should limit scope in renewed buying interest/consolidation above 18.2100.
Following cautious/corrective trade, fresh gains are looked for. A close above 18.5500 will turn sentiment positive and confirm continuation of September gains, initially towards the 18.7675 monthly high of 5 November 2025.