• Hawkish Fed hit EUR/USD 1.0485 to 1.0344 Wed, recovers 1.0420 so far Thur

• Profit taking aids recovery, but may struggle to regain recent 1.05 pivot

• Billions of euros of soon-to-expire option strikes might dictate trading

• They will attract big hedging flows around the strikes to add congestion

• Thursday has 3.3 billion euros 1.0390-1.0400 and more above/below

• Friday expiries - 3.5 billion euros 1.0350, 5.4 billion euros 1.0400

• Friday also has 15 billion euros between 1.0425-50 and 10-billion at 1.0500

• Large 1.0300 option barriers/triggers and more below to add big support

• Uncertainty and US yield advantage limits topside, keeps options attractive

For more click on FXBUZ