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• USD/ MXN steady around 20.235 on Friday after the release of U.S. jobs data, which increased bets of an interest rate cut by the Federal Reserve later this month.
• U.S. nonfarm payrolls increased by 227,000 jobs last month after rising an upwardly-revised 36,000 in October, data showed.
• The Fed will announce its latest policy decision on December 18, with futures markets currently pricing in almost a 90% likelihood of a 25-basis-point rate cut.
• At GMT 15:24, The dollar was up 0.29% against the dollar Mexico's peso at 20.235
• Immediate resistance is located at 20.300 (38.2%fib), any close above will push the pair towards 20466(Nov 29th high).
• Support is seen at 20.086(50%fib) and break below could take the pair towards 20.031 (61.8%fib).
Recommendation: Good to buy around 20.220, with stop loss of 20.000 and target price of 20.500
