There are just a couple of expiries to take note of on the day, as highlighted in bold below.
There are just a couple of expiries to take note of on the day, as highlighted in bold below. That being for EUR/USD with a heavy chunk layered between 1.1650 to 1.1700.
As things stand, US-Iran headline risks continue to drive the market mood and dollar/trading sentiment along with it. That is the tail wagging the dog, as traders are starting to feel more fearful again amid a lack of breakthrough on the next round of talks. There were some fake news involving Iran missiles overnight here , but that was enough to unmask the risk rally from earlier this week as being a rather fragile one at the end of the day.
All it takes is a negative headline blip and there is the potential for everything to come undone. So, we are seeing a more cautious mood there and higher oil prices is also working to keep traders circling back to the dollar for a bit. The expiries above for EUR/USD are holding around the 100 and 200-day moving averages region, seen at 1.1674-05 currently.