EUR/USD might be caught in a bind amid large option expiries this week

Recent price action in itself continues to revolve around the 1.1000 handle and considering the option expiries in the next few days, we might see a lack of meaningful conviction to break free from either side of the figure level.

(I’m having Office/Excel issues so the FX option expiries post today may take a while to come up)

Here’s a look at what is on the board for the pair in the next few days:

29/3
– 1.0950-60 (€1.3bn)
– 1.0975 (€1.1bn)
– 1.1000 (€2.8bn)

30/3
– 1.1000 (€2.4bn)

01/4
– 1.1000 (€3.1bn)

Considering the large expiries at 1.1000, we could see price action be caught and muddied around the region, with traders unable to produce much conviction. Adding to that is the 100 and 200-hour moving averages, now seen @ 1.0993 and 1.1018 respectively.

Of course, there are other factors at play that could push price action away from the 1.1000 level but the above is something to be wary of in case there is a lack of meaningful drivers in the sessions ahead.