• USD/MXN held steady on Thursday as markets digested Trump’s comments on Fed Chair Powell’s position and monitored U.S. trade developments.
• Reports on Wednesday indicated that President Trump was considering removing Fed Chair Jerome Powell ,a claim Trump later denied, though he stopped short of ruling it out entirely.
• Markets viewed Powell’s potential ouster as a path to looser monetary policy, though it risked undermining trust in the Fed’s independence.
• Investors also assessed Trump’s latest trade remarks, including claims of being “very close” to an agreement with India and potential headway with Europe.
• Immediate resistance is located at 18.598(38.2%fib), any close above will push the pair towards 19.091(Higher BB ).
• Support is seen at 18.514 (23.6%fib) and break below could take the pair towards 18.383(Lower BB).
Recommendation: Good to buy around 18.710 with stop loss of 18.400 and target price of 19.000
