• USD/ MXN drifted slightly lower Tuesday as US dollar eased after rallying on Monday.
• Dollar gained more than 0.5% on Monday boosted by tariff threats from President-elect Donald Trump and better-than-expected U.S. manufacturing data.
.• However, the greenback faced some pressure after Federal Reserve official Christopher Waller indicated he is leaning toward a rate cut on December 18.
• At GMT 14:42, The dollar was down 0.04% against Mexico's peso at 20.391
• Immediate resistance is located at 20.636 (23.6%fib), any close above will push the pair towards 20.698 (Higher BB).
• Support is seen at 20.367(38.2%fib) and break below could take the pair towards 20.161(50%fib).
Recommendation: Good to buy around 20.370, with stop loss of 20.150 and target price of 20.650
