In serial dependence, perceptual decisions are biased towards stimuli encountered in the recent past. Here, we investigate whether and how serial dependence is affected by the availability of visual working memory (VWM) resources. In two experiments, participants reproduced the orientation of a series of stimuli. On alternating trials, we included an additional VWM task with randomly varying levels of load. Serial dependence was not only affected by the additional load task but also clearly modulated by the level of load: a high load in the previous trial reduced serial dependence while a high load in the present increased it. These results were independent of the effects of VWM load on the precision of reproduction responses. Our findings provide new insights into the mechanisms that may regulate serial dependence, revealing its intimate link with VWM resources. Significance statement: Our perception, thoughts, and behavior are continuously influenced by recent events. For instance, the way we process and understand current visual information depends on what we have seen in the preceding seconds, a phenomenon known as serial dependence. The precise mechanisms and factors involved in serial dependence are still unclear. Here, we demonstrated that working memory resources are a crucial component. Specifically, when we are currently experiencing a heavy memory load, the influence of prior stimuli becomes stronger. Conversely, when prior stimuli were shown under a high memory load, their influence was reduced. These findings highlight the importance of working memory resources in shaping our interpretation of the present based on the recent past.