• USD/MXN pair dipped on Thursday as positive signals from U.S.-China trade talks boosted investor sentiment, enhancing risk appetite and supporting emerging market currencies like the peso.
• Earlier in the day, China made a notable move by exempting certain U.S. imports from its steep 125% tariffs and inviting businesses to propose additional goods for tariff relief.
•In a separate development, U.S. President Donald Trump told TIME magazine in an interview that U.S.-China discussions on tariffs were ongoing.
• Adding to the bullish tone for the peso, data showed that the Mexican economy grew by 1% in February on a monthly basis, surpassing expectations.
• At GMT 19:34, the pair was trading up 0. 23 percent at 19. 526
• Immediate resistance is located at 19.686(Daily high), any close above will push the pair towards 19. 777(38.2%fib).
• Support is seen at 19. 508 (23.6%fib) and break below could take the pair towards 19.332(Lower BB).
Recommendation: Good to sell around 19. 530, with stop loss of 19. 800 and target price of 19. 400
