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FxWirePro: USD/MXN uptrend gains momentum ,23.6% fibonacci eyed

• USD/MXN climbed on Thursday as market focus shifted to Donald Trump’s presidential inauguration next week and possible inflationary impact of his policies..

• Emerging markets face uncertainty over U.S. rate cuts and brace for potential tariff policies as Donald Trump returns to the White House next week.

• Analysts predict Mexico could face significant economic impacts, though some believe President Claudia Sheinbaum's stricter immigration and tariff policies might help avoid harsh tariffs..

• At GMT 15:54, the pair was trading up 1.32% at 20.728.

•  Immediate resistance is located at 20.926(23.6%fib), any close above will push the pair towards 20.977(Higher BB).

• Support is seen at 20.656(38.2%fib) and break below could take the pair towards 20.498(50%fib).

Recommendation: Good to buy  around 20.700, with stop loss of 20.500 and target price of 20.950

 

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