• USD/MXN steadied around 20.365 on Tuesday, following relief from U.S. President Donald Trump's decision to temporarily suspend tariffs on Mexico and Canada.
• Trump granted Mexico and Canada a 30-day exemption from tariffs after the countries reached border security agreements.
• USD/MXN recovered back from significant losses during a volatile session on Monday.
• Markets will be closely watching for any shifts in Mexico's monetary policy stance amid the tariff backdrop, as the central bank holds its meeting later in the week.
• Immediate resistance is located at 20.708(38.2%fib), any close above will push the pair towards 20.935(Higher BB).
• Support is seen at 20.321(50%fib) and break below could take the pair towards 20.147(Lower BB).
Recommendation: Good to buy around 20.300 with stop loss of 20.000 and target price of 20.800
