FxWirePro: USD/MXN downside pressure builds, key support level in focus

• USD/MXN dipped on Monday as Trump’s policy reversals and a massive spending and tax-cut bill dampened demand for U.S. dollars.

• President Trump announced on Sunday that he would delay EU tariffs until July 9, following a call with European Commission President Ursula von der Leyen, who requested more time to finalize a trade agreement..

• While the announcement offered relief to investors, it also served as a stark reminder of the unpredictability of U.S. trade policy.

• Trading volumes on Monday were light, as markets in both the United States and the United Kingdom were closed in observance of public holidays.

 • At GMT 18:33, the pair was trading down  0.06 percent  at 19.222 

•  Immediate resistance is located at 19.376(May 23rd high), any close above will push the pair towards 19.487(38.2%fib).

• Support is seen at 19.204 (23.6%fib) and break below could take the pair towards 19.118(Lower BB).

Recommendation: Good to sell around 19.300 with stop loss of 19.600 and target price of 19.000