• USD/MXN rose on Monday as investors assessed the impact of U.S. President Donald Trump's new tariff threats on global trade.
• Trump announced over the weekend a 25% tariff on all steel and aluminum imports into the U.S., shaking economies like Canada, Mexico, and Brazil that export steel to the country..
• Markets brace for volatility with each Trump announcement, amid concerns over retaliatory measures and uncertainty for emerging market assets.
• At GMT 16:38, the pair was trading up 0.68% at 20.677
• Immediate resistance is located at 20861 (38.2%fib), any close above will push the pair towards 20.883(Higher BB).
• Support is seen at 20.510(50%fib) and break below could take the pair towards 20.259(Lower BB).
Recommendation: Good to buy around 20.630 with stop loss of 20.450 and target price of 20.800
