• USD/MXN rose higher on Wednesday as investors assessed U.S President Donald Trump's latest tariff threats on auto, semiconductor and pharmaceutical imports.
• Trump announced on Tuesday that tariffs on pharmaceuticals and semiconductors would start at 25%, increasing over the year, with similar tariffs on autos set to begin by April 2.
• Market focus stayed on Riyadh as the U.S. and Russia agreed to continue talks on ending the Ukraine war, following an initial meeting that excluded Kyiv.
• At GMT 15:50, the dollar was up 0.69% against the dollar Mexico's peso at 20.391
• Immediate resistance is located at 20.536 (50%fib), any close above will push the pair towards 20.667(Feb 13th high).
• Support is seen at 20.213(61.8%fib) and break below could take the pair towards 20.153(Lower BB).
Recommendation: Good to buy around 20.350, with stop loss of 20.200 and target price of 20.550
