Chart USD/MXN Update: Balanced beneath fresh year highs - background studies positive
Anticipated gains have extended in both USD and MXN-driven trade
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 18.6000 | ** | congestion | S1 | 18.1000 | * | congestion | |
| R3 | 18.5500 | ** | 38.2% ret of 2025-2026 fall | S2 | 18.0000 | ** | congestion | |
| R2 | 18.5000 | ** | congestion | S3 | 17.8000 | * | intraday congestion highs | |
| R1 | 18.4300 | * | 1 Oct YTD high | S4 | 17.6500 | * | intraday congestion lows |
Asterisk denotes strength of level
16:30 BST - Anticipated gains have extended in both USD and MXN-driven trade, with September gains posting a fresh year high around 18.4300 before settling into consolidation beneath here. Overbought daily stochastics are ticking lower, suggesting room for a minor pullback, before the rising daily Tension Indicator and positive weekly charts prompt further gains. A later close above 18.4300 will improve sentiment and open up a test of congestion around 18.5000. Beyond here is the 18.5500 Fibonacci retracement. But already overbought daily stochastics could limit any initial tests of here in profit-taking/consolidation.
Meanwhile, support is at congestion around 18.1000 and extends to 18.0000. A close beneath here, if seen, will add weight to sentiment and prompt a deeper retracement, as focus then turns to congestion within the 17.6500 - 17.8000 range.