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There is arguably just one to take note of on the day, as highlighted in bold below.
That being for EUR/USD at the 1.1645 level. The expiries do sit near the 200-hour moving average, seen at 1.1644 currently, so they may factor into play in limiting any downside price extensions in the session ahead. That as the currency pair is moving more sideways this week in now keeping in between both the key hourly moving averages.
The price movement indicates that the near-term bias is more neutral now, with traders arguably being more guarded ahead of Fed chair Warsh’s appearance in Jackson Hole tomorrow.
The 100-hour moving average, seen at 1.1670 now, is the upper limit with the lower limit outlined above. So, the expiries will add another layer to that in keeping price action more compact in the session ahead.
But in looking to any further downside price extensions, there is also the 200-day moving average at 1.1630 in keeping things in check this week. So, those are key technical levels that are likely to factor more into play than the expiries as noted above.
Besides that, there isn’t much else on the board for today.
For more information on how to use this data, you may refer to this post here.
This article was written by Justin Low at investinglive.com.
