• The USD/MXN initially gained but gave up some ground as investors focused on a series of interest rate decisions across the world.
• Central bank meetings this week, including the Fed, Bank of Japan, and Bank of England, are expected to hold rates steady due to economic uncertainty.
• US trade policy uncertainty has unsettled markets, pushing the dollar lower against major currencies.
• The Fed is expected to hold rates on Wednesday, but trade uncertainty and slowdown fears have increased bets on easing by year-end.
• At GMT 16:25, the pair was trading down 0.14% at 19.950
• Immediate resistance is located at 20.086(38.2%fib), any close above will push the pair towards 20.256(50%fib).
• Support is seen at 19.861(23.6%fib) and break below could take the pair towards 19.756(Lower BB).
Recommendation: Good to sell around 20.000, with stop loss of 20.200 and target price of 19.000
