FxWirePro: USD/MXN dips as dollar softens on Fed shake-up talk

• USD/MXN dipped on Wednesday as the dollar tumbled after U.S. President Donald Trump's latest comments on the Federal Reserve chair.

• Wall Street Journal article reported that   President Donald Trump is considering announcing a replacement for Fed Chair Jerome Powell as early as September.

•On Wednesday, President Trump called Fed Chair Jerome Powell "terrible" and revealed he has three or four candidates in mind to potentially replace him as head of the Federal Reserve.

• Markets are growing uneasy about the U.S. policy outlook, with investors increasingly pricing in potential instability at the Federal Reserve’s leadership amid heightened political pressure.

• Banxico is set to hold its closely watched monetary policy meeting on Thursday, with analysts widely anticipating a 50-basis-point rate cut.

•  Immediate resistance is located at 19.060(SMA 20), any close above will push the pair towards 19.174(38.2%fib).

• Support is seen at 18.823(23.6%fib) and break below could take the pair towards 18.705(Lower BB).

Recommendation: Good to sell around 18.950 with stop loss of 19.300 and target price of 18.600