FxWirePro: USD/MXN edges higher but bearish outlook persists

• USD/MXN edged higher on Monday  as markets awaited clarity on U.S. President Donald Trump's tariff plans.

• President Trump said Sunday that the U.S. is close to finalizing several trade agreements and will notify other countries of higher tariff rates by July 9, with the new duties set to take effect on August 1.

• In April, President Trump introduced a tariff framework with a 10% base rate and the potential for additional levies of up to 50%. While the 10% tariff was implemented, higher rates were deferred until July 9, giving affected countries a short window to negotiate

• Ongoing uncertainty surrounding the implementation of U.S. trade policy has unsettled markets, prompting traders to reduce exposure to riskier assets in favor of safe havens.

• Technical highlight downside risks for USD/MXN, with momentum studies, 5, 10 and 11 DMAs tracking south.

•  Immediate resistance is located at 18.786 (Daily high), any close above will push the pair towards 18.919(38.2%fib).

• Support is seen at 18.564(23.6%fib) and break below could take the pair towards 18.520(Lower BB).

Recommendation: Good to sell around 18.800 with stop loss of 19.300 and target price of 18.200