• 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
