• USD/MXN dipped on Thursday as greenback weakened after U.S. data pointed to softening labor market conditions amid mounting economic headwinds from tariffs.
• Data showed U.S. weekly jobless claims climbed to 247,000, the highest since October, signaling a weakening labor market amid tariff uncertainty. Continuing claims edged down to 1.904 million.
• All attention is now firmly on Friday’s U.S. nonfarm payrolls report, a key indicator that could shape expectations for the Federal Reserve’s next move..
• Employment report on Friday is expected to show that non-farm payrolls increased by 130,000 jobs in May, after advancing by 177,000 in April.
• Immediate resistance is located at 19.245(Daily high), any close above will push the pair towards 19.350(38.2%fib).
• Support is seen at 19.141(23.6%fib) and break below could take the pair towards 19.051(Lower BB).
Recommendation: Good to sell around 19.200 with stop loss of 19.350 and target price of 19.000
