A 1.1400 EUR/USD option expiry may influence price action as the pair tests support amid shifting dollar sentiment.
EUR/USD is trading near 1.1406, up 0.3% on the day, as a 1.1400 option expiry draws attention. The level aligns with the 100-hour moving average, potentially acting as a magnet for price action in today’s session.
The currency pair has fluctuated around this range for three weeks, struggling to break decisively below 1.1400. Last week saw similar indecision before today’s modest rebound, leaving traders cautious about a sustained move.
Broader market sentiment remains the dominant driver, with the dollar weakening on renewed US-Iran de-escalation hopes. Falling oil prices and bond yields are also pressuring the greenback, though the geopolitical outlook remains uncertain.