EUR/USD holds steady as large expiries come into focus in trading today
EUR/USD sits near unchanged levels as buyers maintain near-term bullish bias; price holds above 100-hour moving average
The dollar may have firmed since overnight trading but the near-term bias in EUR/USD continues to side with buyers for now as sellers are unable to contest a move below the 100-hour MA (red line) - currently at 1.1354.
Trade talks remain the major focus for markets but for EUR/USD we'll have some US data to navigate through later today before we get inflation data from the euro area tomorrow and on Friday to possibly influence price action in the near-term.
But for the current session and the one to come, it's all about option expiries with about €5.0 billion worth of expiries set to roll off later today between 1.1370 and 1.1390.
The large amounts all over the place can largely be attributed to month-end and quarter-end positioning but that will likely help to keep price action limited around said levels barring any major developments in markets.
After they do roll off, look out for either side of the 100-hour MA or the 1.1400-20 levels in EUR/USD as buyers and sellers continue to do battle in search of seeking more momentum during the trading week.
Reprinted from Forexlive，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
-THE END-