There are a couple to take note of on the day, as highlighted in bold below.
The first one is for EUR/USD at the 1.1800 mark once again. Amid a lack of catalysts in sparking any notable market moves on the week so far, the expiries here are likely to continue to act as a magnet in keeping price action boxed in for the European trading session ahead. If anything else, just be wary that there are large ones tomorrow at the same level as well. That before we get to more relevant US data on the week.
Then, there is one for GBP/USD at the 1.3500 level. It doesn’t tie to any technical significance, but the expiries could just keep price action a bit more muted in the session ahead by acting as a bit of a pull. That as dollar sentiment remains rather mixed to start the week.
And there’s also one for USD/CAD at the 1.3850 level. The pair has been on the up so far this week but the expiries here could just help to limit any further upside extensions in European trading at least. That said, the expiries don’t tie to any technical levels so I wouldn’t attach too much significance to the ones today.
Lastly, there is a modest-sized one for AUD/USD at the 0.6600 level. The hotter Australian monthly CPI data earlier did help to give the aussie a bit of a nudge higher, in pushing past its 100-hour moving average at 0.6604. There’s some room to roam between that and the 200-hour moving average of 0.6634 currently. And I’d put more emphasis on those levels rather than the expiries above in looking at price action for the moment.
For more information on how to use this data, you may refer to this post here.
Head on over to investingLive (formerly ForexLive) to get in on the know! This article was written by Justin Low at investinglive.com.
