FxWirePro:USD/MXN positions for another climb, eyes 21.000 level

• USD/MXN surged on Thursday as investors assessed the intensifying tariff standoff between the U.S. and China, two of the world's largest economies.

•Trump stunned markets by pausing his new tariffs for 90 days, but kept a 10% tariff on most countries and imposed higher levies on China.

• Traders are worried that Trump's shifting trade policies and the ongoing U.S.-China trade war could disrupt business decisions and potentially lead to a global recession.

• A global economic slowdown could negatively impact Latin American economies, which rely heavily on export revenues from resources like crude oil, copper, and agricultural products.

• Most of the Bank of Mexico's five governing board members agreed that U.S. President Donald Trump's tariffs will create both upward and downward pressures on Mexican inflation..

•  Immediate resistance is located at 20.750(38.2%fib), any close above will push the pair towards 21.000(Psychological level).

• Support is seen at 20.481 (50%fib) and break below could take the pair towards 20.220(61.8%fib).

Recommendation: Good to buy around 20.500, with stop loss of 20.100 and target price of 21.000