• USD/MXN steadied around 20.640 on Wednesday as investors evaluated the impact of U.S. President Donald Trump's latest tariff proposals.
• In his latest speech on tariffs, Trump said he was planning to impose tariffs on imported computer chips and some metal imports, among others.
• Investors are awaiting the Feb. 1 deadline, when the U.S. is expected to announce tariffs on major trade partners.
• At GMT 15:10, the pair was trading up 0.45% at 20.640.
• Immediate resistance is located at 20.683 (38.2%fib), any close above will push the pair towards 20.846(23.6%fib).
• Support is seen at 20.505(50%fib) and break below could take the pair towards 20.298(61.8%fib).
Recommendation: Good to buy around 20.500 with stop loss of 20.200 and target price of 20.850
