They are for EUR/USD at the 1.1350 and 1.1400 levels, sandwiching the current spot price within 15-35 pips of the respective strikes. The €4.5 billion expiry at 1.1400 is the standout. It is both exceptionally large and almost sitting on top of current price, while 1.1400 is also an obvious psychological level.

In adding to that, the 100-hour moving average sits at 1.1404 currently. So, that will add a key near-term technical resistance layer in keeping price action capped closer to the 1.1400 region in the session ahead.

As such, the expiry at the figure level could give EUR/USD a gravitational pull towards 1.1400 heading into the cut – especially if the broader dollar backdrop remains steadier today.

The key external driver of trading sentiment remains the bond market. As Treasury yields continue to pull higher with 10-year yields at 5.21% now, that could lead to a firmer backdrop for the dollar as we get things going in the new week.

In turn, that could pressure EUR/USD and draw in the expiries at 1.1350 in potentially limiting some of the downside price action in the session ahead.

There aren’t any other major expiries to watch out for besides the ones in EUR/USD today. The expiry at 1.1400 is the main magnet level to watch, with 1.1350 and 1.1420 potentially helping to contain price action going into the cut.

But as mentioned, the more influential and stronger driver of dollar sentiment right now is arguably the bond market. So, how yields behave to start the week will also have a big say on how dollar price action will move in European trading later.

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