There are a couple to take note of on the board for today, as highlighted in bold.
The first one is for EUR/USD at 1.1390 and that rests in between the key hourly moving averages of 1.1372 and 1.1401 at the moment. The expiries could help to lock in price action before we get to US trading, where month-end flows will be one to watch out for. That alongside more headline risk of course.
Then, there is one for USD/JPY at the 142.00 level. It’s not one that ties to any technical significance but the expiries could help limit downside price action on the day, as seen with the past few sessions at the figure level, before rolling off.
Even with the more relevant sizes and levels, I’d still argue that month-end flows and reactions to any headline risks are the two bigger drivers for price action in the day ahead.
For more information on how to use this data, you may refer to this post here.
This article was written by Justin Low at www.forexlive.com.
