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

• 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