That being for EUR/USD at the 1.1500 level. The downside push at the end of last week and early this week fell short of critically testing the 1.1400 level. And amid the turn in the risk mood yesterday, the dollar stumbled back a little with EUR/USD now inching closer towards the 1.1500 mark.

The 100-hour moving average, seen at 1.1512 currently, will act alongside the expiries in terms of limiting gains in the session ahead. That unless we see a material change to the overall risk narrative once again.

As a reminder, the biggest driver and influence of trading sentiment remains the US-Iran conflict. As such, oil prices are the be all and end all to driving broader market sentiment still at this time.

For now, oil prices are creeping back up a little today as the Middle East conflict drags on. Trump’s call for aid on the Strait of Hormuz has fallen on deaf ears and here’s why even US escorts won’t do much to alleviate the situation. So unless there is a material change to the status quo, the war will continue to rage on.

The dollar is trading marginally higher today as the risk mood settles back with S&P 500 futures down 0.2% now. So, that will keep the expiries at the 1.1500 level in play for the session ahead; all else being equal.

For more information on how to use this data, you may refer to this post here.

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