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FxWirePro: USD/ MXN slides lower, poised for potential bigger drop

• USD/ MXN dipped on Monday as dollar slipped on Yuan strengthened as China signaled more stimulus.

• Chinese leaders indicated they will increase fiscal spending and intensify extraordinary policy adjustments to stimulate economic growth.

• The comments were made ahead of the upcoming Central Economic Work Conference, where key targets and policy plans for the next year will be set.

• At GMT 16:41, The dollar was down 0.08% against the dollar Mexico's peso   at 20.156

•  Immediate resistance is located at 20.389 (38.2%fib), any close above will push the pair towards 20.611(Dec 2nd high).

•  Support is seen at 20.103(50%fib) and break below could take the pair towards 19.193 (LowerBB).

Recommendation: Good to sell  around 20.170, with stop loss of 20.300 and target price of 20.000

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