• The USD/MXN rose on Thursday as the dollar firmed after the U.S. Federal Reserve said it was in no rush to cut interest rates, while also flagging U.S. growth concerns..
• Fed Chair Jerome Powell said Wednesday that Trump’s initial policies, including tariffs, have slowed growth and temporarily raised inflation.
• Fed policymakers still anticipate two quarter-point rate cuts by year-end, unchanged from their December projection.
• Data on Thursday showed U.S. jobless claims rose slightly last week, indicating a stable labor market in March.
• At GMT 16:15, the pair was trading down 0.50% at 20.142
• Immediate resistance is located at 20.160(38.2%fib), any close above will push the pair towards 20.310(23.6%fib).
• Support is seen at 20.034(50%fib) and break below could take the pair towards 19.192(61.8%fib).
Recommendation: Good to buy around 20.100, with stop loss of 20.000 and target price of 20.400
