• USD/MXN rose on Friday after U.S. job growth unexpectedly accelerated in December.
• Nonfarm payrolls grew by 256,000 in December, exceeding expectations and up from a revised 212,000 in November, signaling continued strength in the U.S. labor market despite inflation concerns.
• The unemployment rate, meanwhile, dipped to 4.1%, compared with expectations of a 4.2% reading.
• At GMT 14:12, the pair was trading up 0.69% at 20.650.
• Immediate resistance is located at 20.545 (23.6%fib), any close above will push the pair towards 20.776(Higher BB).
• Support is seen at 20.464(Daily low) and break below could take the pair towards 20.379(38.2%fib).
Recommendation: Good to buy around 20.630 with stop loss of 20.450 and target price of 20.800
