• USD/MXN edged higher but gains were limed as investors awaited progress on trade talks with the U.S. ahead of the July tariff deadline.
• Investors await potential U.S. trade deals as the July tariff deadline nears, with U.S.-Canada talks set to resume after a brief pause.
• Canadian PM Mark Carney and U.S. President Trump will resume trade talks aiming for a deal by July 21, extending Trump’s original July 9 deadline for reciprocal tariffs.
• The July 9 deadline remains in place for other countries, though officials now suggest most deals may be finalized by the September 1 Labor Day holiday.
• Investors will also focus on a wave of labor market data in the holiday-shortened week, ending with Thursday’s early release of the government payrolls report.
• Immediate resistance is located at 18.929(June 29th high), any close above will push the pair towards 19.062 (38.2%fib).
• Support is seen at 18.808(23.6%fib) and break below could take the pair towards 18.700(Lower BB).
Recommendation: Good to sell around 18.900 with stop loss of 19.200 and target price of 18.500
