FxWirePro: USD/MXN remains weak, eyes 23.6%fib support

• USD/MXN dipped on Friday  as investors digested a U.S. inflation report and monitored trade developments with the U.S.

•Markets welcomed a trade agreement reached Thursday between the U.S. and China to fast-track rare earth exports to the U.S., seeing it as a constructive move toward resolving their broader tariff conflict

•Investors are closely watching for signs of progress on new trade agreements ahead of the July 9 deadline for Trump’s proposed 'reciprocal' tariffs, as countries race to finalize deals.

• U.S. consumer spending unexpectedly declined by 0.1% in May, marking the second drop this year, while inflation continued to rise at a moderate pace.

•  Immediate resistance is located at 19.023(SMA 20), any close above will push the pair towards 19.199(38.2%fib).

• Support is seen at 18.813(23.6%fib) and break below could take the pair towards 18.721(Lower BB).

Recommendation: Good to sell around 18.900 with stop loss of 19.300 and target price of 18.600