Currency options expire today at 17:00 – EUR/USD – USD/JPY.

This is a currency option for EUR/USD near 1.0800, adding to technical resistances for the pair. This could have an impact if we see a significant price recovery on the back of a much weaker PCE index, today at 15: 30, which will weaken the dollar. Of course, a rally of this magnitude is unlikely in today’s session, but it is good to pay attention to this level in case there are any surprises.

Similarly, there are also big breakouts around 1.0650-65, but sellers will need to break 1.0700 first for the options to come into play. There are no particularly important levels around this area, so it is not of particular magnitude meaning unless EUR/USD’s downward momentum picks up speed.

In addition to EUR/USD, there is also a decent amount of upside for USD/JPY at 140.00. The level is of more psychological significance than technical. The level could prove to be a breakout target for USD Bulls before the end of the week, which could attract momentum.

 Dealer Anatoliy Pavlov

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