There are quite a couple of expiries to take note of on the day, as highlighted in bold below.
They are all for EUR/USD layered between 1.1400 and 1.1450 as noted above. The larger chunk of expiries are seen at 1.1400-05, which holds similar to previous expiries seen earlier this week. The ones here are likely to help limit any downside extensions in price action, with it bearing little technical significance.
Similarly, the ones at 1.1450 also don’t tie much to any technical significance. However, they do sit near minor resistance around the 1.1460 level for now.
As such, the combination of the expiries could act as bookends to price action. That being said, I would argue the technical limitations in the near-term are more along the lines of 1.1400 to 1.1460.
And even with the expiries above in play, dollar sentiment and the broader risk mood will continue to remain bigger influences of price action before the weekend. As such, headline risks will still be of much importance especially those pertaining to the US-Iran conflict.
For now, things are calmer but any further respite in risk trades could yet trigger further dollar downside in ending the week; vice versa. A break above 1.1460 in particular could really set EUR/USD for a much stronger upside move next. So, just be wary of that.
For more information on how to use this data, you may refer to this post here.
This article was written by fl9bde53b91e184082bbe3aa3acaaf2cb0 at investinglive.com.
