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FxWirePro: USD/MXN moves downward as Mexico avoids heavier U.S. tariffs

• 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

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