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FxWirePro: USD/MXN extends drop, faces 23.6%fib support

• 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

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