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FxWirePro: USD/MXN steadies around 18.760, retains bid tone

• 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

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