Published: 2026-07-09T16:23:37.000Z
Chart USD/MXN Update: Consolidating test of strong resistance
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Minor selling interest has bounced from 17.3550
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 17.8000 | * | congestion | S1 | 17.5000 | ** | congestion | |
| R3 | 17.7700 | ** | 61.8% ret of Mar-Apr fall | S2 | 17.3550~ | * | 7 Jul low | |
| R2 | 17.6450 | ** | 50% ret of Mar-Apr fall | S3 | 17.3000 | * | break level | |
| R1 | 17.6000 | ** | congestion | S4 | 17.1500 | * | congestion |
Asterisk denotes strength of level
17:00 BST - Minor selling interest has bounced from 17.3550, with prices reaching strong resistance within the 17.6000 - 17.6450 range, before settling into consolidation beneath here. Immediate focus is on congestion support at 17.5000. But rising daily readings and improving weekly charts should limit any immediate tests beneath here in renewed consolidation above the 17.3550 low of 7 July. Following cautious/corrective trade, fresh gains are looked for. However, a close above the 17.6450 Fibonacci retracement is needed to turn sentiment positive and extend May gains towards the 17.7700 retracement.