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

• USD/MXN slipped lower  on Wednesday  as dollar dipped following a weaker-than-expected U.S. private payrolls and   ISM non manufacturing PMI data .

• The U.S. services sector shrank in May for the first time in almost a year, with input costs rising a sign that the economy may be headed for a phase of sluggish growth and persistent inflation..

• The ISM non-manufacturing PMI fell to 49.9, slipping below the 50 threshold that separates expansion from contraction.

• Private employers added just 37,000 jobs in May—the smallest increase since March 2023—following a downward revision of April’s gain to 60,000.

• Meanwhile, investors continued to navigate heightened uncertainty stemming from U.S. President Donald Trump's tariff agenda, which has introduced volatility into global markets.

•  Immediate resistance is located at 19.379(May 21st high), any close above will push the pair towards 19.491(38.2%fib).

• Support is seen at 19.179(23.6%fib) and break below could take the pair towards 19.068(Lower BB).

Recommendation: Good to sell around 19.200 with stop loss of 19.450 and target price of 19.000