USD/BRL
Just like Vale and Ibovespa, BRL staged an interesting afternoon recovery and left an upper wick, clear evidence of buying stepping in at the Real’s support zone (USD resistance).
Still holding my partially built short USD/BRL, but this is now an obvious tug of war between longs and shorts. High alert on this position and on which narrative wins over the next few days.
Just like Vale and Ibovespa, BRL staged an interesting afternoon recovery and left an upper wick, clear evidence of buying stepping in at the Real’s support zone (USD resistance).
Still holding my partially built short USD/BRL, but this is now an obvious tug of war between longs and shorts. High alert on this position and on which narrative wins over the next few days.
