• The latest EUR/USD setback met demand by 10 April 1.08315 low (EBS) on Wed

• Big option strike expiries nearby with related cash hedging aiding support

• 1.4-billion euros between 1.0810-25 and 590-million 1.0795 expire Wednesday

• Another huge 1.9-billion between 1.0810-20 expire 10-am New York Thursday

• Big support at 1.0806 - 50% Fibo retrace of 1.0516 to 1.1096 Mar-Apr gains

• FX options reflect FX downside risk but expect volatility to stay very low

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