FX option expiries for 21 February 10am New York cut
The first being for EUR/USD at around 1.0778-80, which could help to limit any downside action in the session ahead. That also sits near the 100-hour moving average, seen at 1.0776 currently. As such, the expiries could double up as a supportive layer for price action before rolling off later.
Then, there is the one for USD/JPY near 150.00 again. The large expiries there should keep price action more limited and centered around the figure level still, as we have seen through the week so far.
AUDUSD Bounces, But Can It Break the Downtrend?
AUDUSD has staged a comeback from its recent low of 0.6442, but faces a stiff challenge at the upper boundary of the falling price channel on the 4-hour chart. This resistance zone will determine whether the current rally is a mere blip in the downtrend or a sign of a potential trend reversal.
Upside Potential: Can the Rally Extend?
Support Levels to Watch for Downtrend Continuation
Overall Sentiment
The outcome of the price action around the 0.6520 support level and the price channel resistance will be crucial in determining AUDUSD’s next move. A breakout above the channel could indicate a potential trend reversal and upside potential towards 0.6624. Conversely, a breakdown below 0.6520 and subsequent breach of 0.6442 would reinforce the downtrend and suggest further decline towards 0.6400 or lower.
Disclaimer: This analysis is for informational purposes only and should not be considered as investment advice. Please conduct your own research before making any trading decisions.
EURUSD
Without going in what might or might not happen in coming days, I’ll stick to what should happen tomorrow.
Supports come in 1.07800 – 1.08000 area – every 5 pips might prove hard to get through…
So, if the area holds , we should see tomorrow even bigger move then today – we might run straight for the 1.09450
But if bellow 1.07800 – All Bets Are OFF
DLRx 103.78
to state the obvious : dlr is on the back foot somewhat
one could be suspicious of players trying to push the puppy lower for possible buying but I am not convinced there is underlaying appetite for the buck.
maybe if FED yakkers come out with higher for longer hymns or Minutes deliver something to impress players later this week
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