There are just a couple to take note of on the day, as highlighted in bold below.
The first ones are for EUR/USD at the 1.1700 and 1.1725 levels. After the mix of the ECB and US data yesterday, the pair is finding renewed vigour to try and push higher to wrap up the week. But the expiries above might keep things in check, at least for European trading today.
Traders are close to pricing in three 25 bps rate cuts for the Fed by year-end already, so dollar downside might be more limited in closing out the week. As such, the expiries may help to just pin down price action for now as buyers are continuing to try and look for a stronger break above 1.1800 in the bigger picture.
Then, there are ones for USD/JPY around 147.40-50 levels. That sits close to the 100-hour moving average, seen at 147.42 currently, but I wouldn’t ascribe too much significance to the expiries today. The pair continues to be locked in range, with price action just holding within the confines of its 100 and 200-day moving averages at 146.03 and 148.67 respectively for now. That leaves plenty of room to roam in between until the next key catalyst comes along.
For more information on how to use this data, you may refer to this post here.
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