FxWirePro: USD/MXN downtrend extends ,eyes 19.100 level

• USD/MXN dipped  on Wednesday as temporary reprieve in Sino-U.S. trade tensions and weaker dollar boosted Mexican peso.

•The greenback weakened after data showed U.S. consumer inflation rose only moderately in April, reinforcing expectations of potential Fed rate cuts.

• With the U.S. inflation figures for April released, attention now turns to the upcoming retail sales data, set to be published on Thursday . This report will offer critical insights into consumer spending patterns and the overall health of the U.S. economy.

• Global financial markets opened the week on a positive note after the U.S. and China agreed to temporarily reduce tariffs. The U.S. announced a cut to "de minimis" tariffs on low-value Chinese imports, easing trade tensions.

•  Immediate resistance is located at 19.631(38.2%fib), any close above will push the pair towards 19.795(Higher BB).

• Support is seen at 19.311(Daily low) and break below could take the pair towards 19.121(23.6%fib).

Recommendation: Good to sell around 19.400 with stop loss of 19.900 and target price of 19.100