• USD/MXN dipped on Monday as greenback weakened as investors awaited outcome of talks between the United States and China .
• U.S. President Donald Trump announced on social media that Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick, and Trade Representative Jamieson Greer will represent Washington in talks with China.
• Investors are aslo closely watching Wednesday’s U.S. inflation data, which could influence expectations for the Federal Reserve's next rate move.
• The market is currently pricing in a 62% chance for a cut of at least 25 basis points at the central bank's September meeting.
• Immediate resistance is located at 19.119(Daily high), any close above will push the pair towards 19.243(38.2%fib).
• Support is seen at 19.028 (23.6%fib) and break below could take the pair towards 18.949(Lower BB).
Recommendation: Good to sell around 19.100 with stop loss of 19.350 and target price of 18.700
