• EUR/USD consolidates recent gains to highs since Nov 2021 at 1.1572

• Currently in mid 1.13's but don't rule out further setbacks

• Key tech support is at 1.1231 - 23.6% Fibo retrace of 1.0125-1.1572 gains

• Plenty of big FX option strike expiries and related hedging flows surround

• 3.5 billion euros of 1.1250 strikes expire at 10-am New York on Monday

• Tuesday 1.1325 €1-bln, 1.1200 €2-bln, Wednesday 1.1250 on 1.6 billion euros

• Thursday at 1.1200 on 1.6 billion and 1.1250-70 on 2.5 billion euros

• Hedging flows often draw/contain if FX spot is near strikes as expiry looms

• Related comment: Low-cost options to target next EUR/USD up-leg
EUR/USD FX option strikes expiring between April 28 and May 2


EUR=EBS

(Richard Pace is a Reuters market analyst. The views expressed are his own)