• USD/ MXN initially gained but gave up some ground as investors assessed fresh inflation data out of the United States..
.• U.S. consumer spending increased solidly in October, suggesting that the economy maintained its strong pace of growth early in the fourth quarter, but progress lowering inflation appears to have stalled in the past months
.•Mexico's central bank (Banxico) policy meeting are set to be released on Thursday. At GMT 17:10, The dollar was up 0.04% at 20.6364against the Mexican peso.
• Immediate resistance is located at 20.768 (23.6%fib), any close above will push the pair towards 20.900 (Higher BB).
• Support is seen at 20.441(38.2%fib) and break below could take the pair towards 20.273(Nov 26th low).
Recommendation: Good to buy around 20.600, with stop loss of 20.200 and target price of 20.850
