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Posted by Tango
on September 20, 2019, 6:52 am
Selling at the opening in both markets hit resting bids. Looking at the depth of market, bids begin to accumulate right below the low. Yesterday, a similar well populated buy side provided support, enough to cause a recovery. The post close was higher than the settlement and prices are now higher still. Possibly the market hit the low of the range yesterday at 98.10. The Real was weak yesterday but all all the BRIC currencies are higher against the $ which is also higher against major currencies. It’s Friday and we’ll see what 8:00 brings. Nagual’s resistance level is 100.40 and my not so scientific resistance is 100.00.
USDMXN is 19.4194 -0.0313 (-0.1609%), USDCOP traded unchanged at 3381.50 and USDBRL closed at 4.1672 is valued at 4.1592 on the CME. Bond futures are lower while equities, metals and crude are higher. Sugar and cotton are higher while cocoa is lower.
The market is slightly steady and aiming for 100.00.