FX Option Expiries: Navigating the Market's Key Events
Stay alert for significant market events as we approach the 10th of February at 10 AM New York time. Here's a breakdown of the crucial expiries you need to know about:
EUR/USD: 1.1910 Level
The EUR/USD currency pair is at a pivotal point at 1.1910. While this expiry doesn't carry technical significance, it's worth noting that the dollar's weakness yesterday has pushed the pair above the 1.1900 mark. However, the expiries might limit any significant price movements in the European morning session. This is especially true as market focus shifts towards a 72-hour period packed with critical US economic data releases.
AUD/USD: 0.7100 Level
Similarly, the AUD/USD pair faces a potential hurdle at 0.7100. This expiry doesn't hold technical importance, but it's worth mentioning that there's a layer of offers near this level. This has historically stopped the pair's upside momentum, and it did so again during yesterday's overnight trading. As a result, the pair's upside potential is currently capped, with expiries likely playing a role in limiting further gains in the upcoming session. This trend will change when US trading begins, focusing on today's retail sales data.
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