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• The USD/MXN steadied on Friday as investors assessed the risks of a global trade war ahead of the March 4 deadline for proposed U.S. tariffs on Mexico, Canada, and China.
• U.S. President Donald Trump reaffirmed that 25% duties on imports from Canada and Mexico will take effect on Tuesday, dampening hopes of a further delay.
• Trading in USD/MXN has been highly volatile this week as investors reacted to a flurry of tariff news and geopolitical developments.
• At GMT 16:30, The greenback was last trading up 0.23% to 20.523 against Peso.
• Immediate resistance is located at 20.620 (38.2%fib), any close above will push the pair towards 20.678(Higher BB).
• Support is seen at 20.434 (50%fib) and break below could take the pair towards 20.249(61.8%fib)
Recommendation: Good to buy around 20.500 with stop loss of 20.300 and target price of 20.680
