• USD/MXN fell on Tuesday as delayed implementation of reciprocal U.S. tariffs and United States and Russia talks brought some relief to investors.
• Traders closely watched talks on Tuesday aimed at ending the Ukraine war, as U.S. and Russian officials held over four hours of discussions in Riyadh, Saudi Arabia.
• The United States and Russia agreed in Riyadh on Tuesday to continue efforts to resolve the Ukraine war, according to a U.S. official. Meanwhile, Kyiv and its European allies watched closely as Moscow presented a significant new demand.
• At GMT 17:56, the pair was trading down 0.11% at 20.260.
• Immediate resistance is located at 20.465(50%fib), any close above will push the pair towards 20.647(Feb 13th high).
• Support is seen at 20.201(Lower BB) and break below could take the pair towards 20.133(61.8%fib).
Recommendation: Good to sell around 20.300, with stop loss of 20.450 and target price of 20.000
