Two expiries stand out in the market today: EUR/USD at the 1.0600 level and USD/CAD at 1.3500. While these levels may not hold much technical significance, they are likely to attract sellers who will put up offers around these figures. The expiries add an additional layer to the potential price action during the session.
In the case of EUR/USD, sellers will be keen to test the waters and keep the pair below the 200-day moving average at 1.3457, which was supported by the 1.3400 mark and its 100-day moving average last week. However, the more relevant near-term level to watch out for is the pair’s 200-hour moving average at 1.3483.
Similarly, for USD/CAD, the 1.3500 level lacks significant technical significance. The pair’s price action is currently more limited by its 200-hour moving average at 1.3483. Sellers are aiming to continue testing the waters below the 200-day moving average at 1.3457, with last week’s decline being supported by the 1.3400 mark and its nearby 100-day moving average.
The expiries at these levels could potentially influence the market’s back and forth price action, providing additional layers of support and resistance. Traders should consider these factors when making trading decisions. For more information on utilizing this data, refer to the provided link.