A large body of research reports that perceiving body movements of other people activates motor representations in the observer's brain. This automatic resonance mechanism appears to be imitative in nature. However, action observation does not inevitably lead to symmetrical motor facilitation: mirroring the observed movement might be disadvantageous for successfully performing joint actions. In two experiments, we used transcranial magnetic stimulation (TMS) to investigate whether the excitability of the corticospinal system was selectively modulated by the social dimension of an observed action. We recorded motor-evoked potentials (MEPs) from right-hand muscles during the observation of an action sequence which, depending on context, might or might not elicit a complementary response. The results demonstrate a differential motor facilitation depending on action context. Specifically, when the context called for a complementary action, the excitability pattern reflected the under-threshold activation of a complementary action, whereas when the context did not imply acting in a complementary manner, the observer's corticospinal activity reflected symmetrical motor resonance. We contend that the mechanisms underlying action observation are flexible and respond to contextual factors that guide the social interaction between individuals beyond emulation.