There are just a couple to take note of on the day, as highlighted in bold.
And they are both for EUR/USD at the 1.0775 and 1.0850 levels. The expiries are sandwiching the spot price at the moment with price action this week largely contained in between 1.0780 through to 1.0825. As such, the expiries will add to those defensive layers on either side.
That being said, the euro side of the equation will come into focus with plenty of CPI and GDP data in the day(s) ahead. So, just be wary of that.
In terms of technicals, the pair is consolidating somewhat after testing the August low of 1.0777. Buyers are holding on somewhat with the near-term chart also reflecting that, with price action now just above its 100 and 200-hour moving averages of 1.0809-15. But I would argue getting above the Friday high of 1.0839 will do more to convince of a potential turnaround for buyers. So, keep that in mind as well.
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.
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