• 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
