There are just a couple of expiries to take note of on the day, as highlighted in bold below.
They are both for EUR/USD layered close by at 1.1600 to 1.1615. Both the strikes are decently relevant and could attract increased two-way interest if EUR/USD drifts lower ahead of the cut.
Collectively, they could behave as more of a short-term support and/or magnet zone for price action. In essence, the expiries at the 1.1615 level will act as the first layer with an added layer provided by the 1.1600 to draw or anchor price action to the downside.
And the relevance of the expiries is only amplified by ties to the technical side of things.
The 100 and 200-hour moving averages for EUR/USD are seen at 1.1611-20 currently. So, that could also help to limit any major downside price movements in the session ahead. That will thus reinforce the support and/or magnet-like effect in EUR/USD towards the expiry level above.
The ones closer to 1.1600 will likely be reinforced by short-term bids, as seen since last Friday already.
In short, the expiries above may play into the near-term trading sentiment that any downside price action could potentially become stickier around 1.1615/00.
For more information on how to use this data, you may refer to this post here and/or refer to the Q&A below.
