FX option expiries for August 11 include some important levels to note. For EUR/USD, the range is between 1.1600 and 1.1700, and this currency pair has stayed within these limits since late last week. With the US CPI report coming soon, traders are unlikely to make big moves today. These expiries might help keep the market stable, but without any major news, we should see limited price changes.

NZD/USD Support Levels

The NZD/USD has an expiry level at 0.5930, which is close to the 100-hour moving average at 0.5932. This could offer support during the European morning session. The 200-hour moving average is slightly lower at 0.5923. Looking ahead, there are notable option expiries for EUR/USD. Key barriers exist between 1.0750 and 1.0800. With the US CPI report coming tomorrow, we don’t expect traders to push the market aggressively beyond these levels today. The market is focused on this inflation data, especially after July’s core inflation rate came in at 3.8%, higher than expected. This has strengthened the belief that the Federal Reserve will keep interest rates stable, while the European Central Bank is taking a more cautious approach. This difference in policy may limit the euro’s strength in the upcoming weeks. We’ve seen this happen before, especially during 2022-2023. The Fed’s strong rate hikes caused the EUR/USD to drop below parity for the first time in 20 years. Derivative traders likely remember this and might be positioning for a continued period of dollar strength, even if it’s not as extreme as before.

NZD/USD 50-Day Moving Average

For NZD/USD, there’s a key option expiry at the 0.6150 level. This strike price aligns closely with the 50-day moving average at 0.6145, which should provide a solid support level in the near term. These factors may limit any downside movement for now. On a fundamental level, the Reserve Bank of New Zealand indicated a continued pause during its last meeting, which has given the kiwi some stability. This was further supported by the latest Global Dairy Trade auction, where prices increased by 1.2%. However, any gains for the kiwi will face challenges from the market’s stronger appetite for US dollars ahead of key data. Create your live VT Markets account and start trading now.

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