FxWirePro: USD/MXN downtrend extends ,eyes 19.400 level

• USD/MXN dipped  on Wednesday  as uncertainty over U.S.-China trade negotiations  weighed on sentiment.

•The Fed is expected to keep interest rates unchanged on Wednesday, with investors looking for any hints on future rate policy amid economic uncertainty caused by U.S. tariffs.

• As Mexico gears up for its April inflation figures release on Thursday and an impending central bank decision on interest rates next week.

• Investors are also keeping a keen eye on tariff discussions, particularly with the U.S.-China trade policy developments absorbing much of their attention.

 • Rising hopes that the world’s two largest economies will cooperate to ease damaging tariffs have recently boosted global risk appetite.

•  Immediate resistance is located at 19.685(Daily high), any close above will push the pair towards 19.771(50%fib).

• Support is seen at 19.485(38.2%fib) and break below could take the pair towards 19.230Lower BB).

Recommendation: Good to sell around 19.600 with stop loss of 19.900 and target price of 19.400