That being for EUR/USD at the 1.1550 level. With the spot sitting almost directly on the strike, this has the strongest potential to encourage sticky and/or choppy price action around 1.1550 into the expiry.

Adding to that, the expiry level does hold close to a key technical support level on the charts. That being the 100-day moving average at 1.1556 currently. This has been a key level that has prevented the downside momentum in EUR/USD from extending further in the past few weeks. And once again, it will be a key level that is eyed and set to be challenged now – especially with a stronger dollar in action.

That comes as the market focus now turns to a more hawkish Fed ahead of the FOMC meeting on Wednesday. That will be the bigger driver of dollar and ultimately trading sentiment for major currencies.

Besides that, there are some larger expiries for the currency pair at 1.1500 and 1.1600 as well. And considering that setup alongside the one at 1.1550, that could favour more contained, two-way trading around the mid-1.15 levels if there is no major macro catalyst. At best, a downside technical break could draw in the ones at 1.1500 for added support.

For more information on how to use this data, you may refer to this post here and/or refer to the Q&A below.