FX option expiries for 7 May 10am New York cut

There are a couple to take note of, as highlighted in bold.

The first one being for EUR/USD at the 1.0725 level. It isn’t one that holds much technical significance but could play a role in keeping price action more sticky if we do see more of a downside shove later in the session. The dollar is keeping a little firmer for now, so the expiries could factor into play as such.

Then, there is the one for USD/CAD at the 1.3700 level. It coincides with the confluence of the 100 and 200-hour moving averages at 1.3690-99 currently. And that could help limit an upside push in the session ahead at least, until the expiries roll off. But a lot of it will depend on general dollar sentiment as well, so keep that in mind.

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.