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FxWirePro: USD/MXN downtrend extends ,eyes 19.100 level

• USD/MXN dipped  on Monday  as greenback weakened amid renewed trade tensions following U.S. President Donald Trump's announcement to double tariffs on imported metals

• Global investors faced increased uncertainty after Trump’s Friday threat to double tariffs on imported steel and aluminum to 50%, effective from Wednesday..

• This followed Trump’s accusation that Beijing breached a U.S. agreement to mutually reduce tariffs and trade barriers on critical minerals.

• Trump’s unpredictable trade war has hurt U.S. assets, weakening their safe-haven status and pushing investors to seek alternatives  .

•  Immediate resistance is located at 19.486(38.2%fib), any close above will push the pair towards 19.567(May 16th high).

• Support is seen at 19.181(23.6%fib) and break below could take the pair towards 19.073(Lower BB).

Recommendation: Good to sell around 19.250 with stop loss of 19.550 and target price of 19.000

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