FxWirePro: USD/MXN struggle to recovery, good to sell on rally

• USD/MXN edged higher  but gains were limited  as markets navigated the murky waters of U.S.-China trade policy uncertainties.

• U.S. President Donald Trump has stated progress is being made on trade with China and other countries, but evidence remains scarce.

• Treasury Secretary Scott Bessent denied on Sunday that tariff talks with China were ongoing, contradicting Trump's claim.

• On the data front, Mexico's unemployment rate stood at 2.6% in March, with a trade surplus of $1.03 billion for the same period.

 • The ongoing uncertainty around Trump's global trade shifts is likely to continue affecting private spending and investment in Latin America's second-largest economy.

•  Immediate resistance is located at 19.687 (25th April high), any close above will push the pair towards 19. 749 (38.2%fib).

• Support is seen at 19. 472(23.6%fib) and break below could take the pair towards 19. 284 (Lower BB).

Recommendation: Good to sell around 19.600 with stop loss of 19. 800 and target price of 19.200