Forex options expiring today

There are a few levels worth noting today, as highlighted in bold. For EUR/USD, there are options positioned in the 1.0440 to 1.0485 range. These could provide some support if the Eurozone PMI data later today disappoints. However, with the ECB already preparing for a rate cut in March, the potential for a significant decline is currently limited. Rather, April will be the month to watch for inflation developments and the ECB’s subsequent communications to gauge further moves. In any case, since the dollar has been under pressure this week, the 1.0500 level remains the more interesting one for now.

EUR/USD is on the verge of breaking through this key resistance and may succeed before the weekend. Therefore, I would say this level holds more significance at the moment than the impact of options in determining market balance. Additionally, there is an option for USD/CAD at 1.4200. This is not a level of major technical significance, but it sits between the 100- and 200-hour moving averages, currently in the 1.4195-1.4227 range. In the short term, technical factors still support downward pressure on the pair this week, and the option expiries may help limit movement before the release of Canadian retail sales data and U.S. PMI indices later today.