That being for AUD/USD at the 0.7000 level. The pair managed to stave off a daily close below the figure level last week but the pressure is mounting amid an even bigger spike in oil prices to start the week. The expiries don’t tie to any technical significance but could play a role in keeping price action hanging in there before rolling off later in the day.

But as mentioned last week, there are bigger drivers of price action in the market at the moment. So, the impact of any option expiries needs to be taken in that context. As such, they are likely to be more muted as traders have to focus on the more important factors moving markets currently.

The dollar and broader sentiment are both largely tied to oil prices right now. And that in turn is driven by headlines affecting the market amid the US-Iran conflict.

The latest being earlier this morning as we have the G7 and IEA looking to coordinate a joint release of emergency oil reserves. That is helping to see oil prices come off the boil with WTI crude oil falling back from $116 to around $105 currently.

In turn, the dollar has also seen gains ease back as well. EUR/USD is now down just 0.5% to 1.1560 from a low of 1.1507. There are large option expiries there at 1.1600 and above but not likely to feature much into play unless we get better headline developments to cause the dollar to weaken.

Even AUD/USD is now nudging back above the 0.7000 mark, after falling to a low of 0.6955 earlier in the day. And because of that, it’s drawing in the expiries a little as noted above.

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

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