FxWirePro: USD/MXN gains as traders digest U.S. data

• USD/MXN extended gains on Thursday as traders digested  economic releases from the   the U.S.

•  U.S. private payrolls rose less than expected in August, and weekly jobless claims were higher, signaling a cooling labor market..

• U.S. initial jobless claims rose by 8,000 to 237,000 for the week ended August 30, exceeding the forecast of 230,000, the Labor Department reported. ADP report: U.S. private employment rose 54,000 in August, down from 106,000 in July.

• Softer U.S. private payrolls and higher jobless claims kept investors on edge. With a relatively light week, attention was fixed on Friday's U.S. non-farm payrolls.

• At GMT 16:32 ,the dollar   was up 0.38  % at 18.770 against Mexican peso.

•  Immediate resistance is located at 18.830 (Higher BB), any close above will push the pair towards 18.877(38.2%fib).

• Support is seen at 18.687(SMA 20) and break below could take the pair towards 18.550(Lower BB).

Recommendation: Good to buy around 18.750 with stop loss of 18.400 and target price of 19.000