• USD/MXN declined sharply on Thursday as peso gained upper hand as region was spared from the worst of U.S. President Donald Trump's reciprocal tariffs..
• The U.S. imposed a 10% tariff on all imports, with higher duties on Asian economies, but excluded Mexico from the targeted levies.
• The peso has seen considerable fluctuations in the past two months after Trump imposed tariffs on imports from Mexico and Canada, only to later ease his approach.
• At GMT 16:26, the pair was trading down 1.16 percent at 19.943
• Immediate resistance is located at 20.029(50%fib), any close above will push the pair towards 20.178(61.8%fib).
• Support is seen at 19.839(23.6%fib) and break below could take the pair towards 19.758(Lower BB).
Recommendation: Good to sell around 20.000, with stop loss of 20.200 and target price of 19.750
