After a sluggish begin to the day, EUR/USD is seeing a fast rise up to now two hours in a push from 1.0980 to 1.1020 presently. Patrons have seized again near-term management on a push again above each the 100 (crimson line) and 200-hour (blue line) shifting averages, as seen above.
The catalyst for the transfer? It looks like the greenback is giving some again after yesterday’s advance with US futures nudging larger on the again of a rally in tech shares whereas bond yields are additionally steadying after the sharp fall yesterday.
In different phrases, it’s just a few added pushing and pulling that we’ve got been seeing within the pair since two weeks in the past till now.
However for EUR/USD value motion in the present day, simply be aware of the massive choice expiries famous right here.
Whereas they’re largely layered between 1.0900 by means of to 1.1000, there are additionally massive ones seen at round 1.1030-45 which might assist to maintain a lid on any upside value motion earlier than rolling off later.
In any other case, we might additionally see the pair find yourself being extra sticky across the determine stage until there are extra outsized transfer in broader markets through the session forward.
Within the massive image, there’s nonetheless key weekly resistance round 1.1033 with the current highs round 1.1067-75 additionally a area that consumers must attempt to shake off.