• USD/MXN initially gained but then reversed course on Wednesday as investors assessed the U.S. CPI data.
• The Consumer Price Index rose 0.3% last month, marking the largest gain since April, after a consistent 0.2% increase for four consecutive months, the Labor Department reported on Wednesday.
• Analysts had projected the CPI to rise 0.3% month-on-month and increase 2.7% year-on-year.
• At GMT 14:23, The dollar was up 0.10% against the dollar Mexico's peso at 20.188
• Immediate resistance is located at 20.261 (Daily high), any close above will push the pair towards 20.372(23.6%fib).
• Support is seen at 20.128(38.2%fib) and break below could take the pair towards 20.061 (LowerBB).
Recommendation: Good to buyl around 20.170, with stop loss of 20.300 and target price of 20.000
