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Posted by Tango
on August 8, 2019, 9:53 am
The large drop in OI is likely a combination of spread liquidation and outright short covering and long liquidation, accounting for both the generally steady tone and the resilience, and producing a directionless market. Today stops were present above 98.00 but has we see the spike attracted selling. Now we are below the 97.50 strike which may provide support, at least temporarily. There is little activity other than the front spread. USDBRL is 3.944 -0.0242 (-0.6098%) and 3,397.6299 -47.96 (-1.3919%).