• USD/MXN dipped on Tuesday as the peso strengthened on signs of easing trade tensions. .
• Trump delayed his threatened tariffs on European imports until July 9 after a weekend call with EU Commission President Ursula von der Leyen.
• The announcement provided some relief to investors but underscored the ongoing unpredictability of U.S. trade policy.
• Data front, U.S. consumer confidence snapped five straight months of decline and improved in May amid a truce in the trade war between Washington and Beijing.
• Investors are focused on upcoming Fed speeches and Friday’s core PCE data, seeking clues on the direction of U.S. interest rates..
• At GMT 16:31, the pair was trading down 0.10 percent at 19.221
• Immediate resistance is located at 19.341(SMA 11), any close above will push the pair towards 19.655(38.2%fib).
• Support is seen at 19.179 (23.6%fib) and break below could take the pair towards 19.078(Lower BB).
Recommendation: Good to sell around 19.250 with stop loss of 19.400 and target price of 19.000
