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Jul 27 - 06:55 AM

EUR/USD - Bulls Might Take Solace From FX Options

By Richard Pace  —  Jul 27 - 06:02 AM
  • Forward looking FX options have reduced premium for EUR/USD downside

  • 1-month risk reversal traded with a EUR put/USD call premium since June

  • Having peaked at 0.4, it was 0.2 last week and now just 0.025 - tiny

  • Suggests conviction for deeper EUR/USD declines is waning

  • Solid support mid 1.17's protects 31 March low since Nov at 1.1704

  • However, bulls need to overcome falling 10-dma resistance 1.1821

  • Tuesdays range inside Mons 1.1817-64 at 1.1812-1.1770 (EBS)

  • Big FX option expiries 1.1750-75/1.1800-25 help contain nL1N2P30BK

For more click on FXBUZ


EUR=EBS Click here

EUR/USD 1-3 month expiry option risk reversals Click here

Source:
Refinitiv IFR Research/Market Commentary

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