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Apr 14 - 03:55 AM

EUR/USD - Bulls Face Significant Option Related Resistance

By Richard Pace  —  Apr 14 - 02:17 AM
  • Weaker US yields have lifted EUR/USD, but it faces significant resistance

  • Broken 38.2% Fibo of 1.2349-1.1704 at 1.1950 for 1.1967

  • 55-dma 1.1974 next resistance, 1.2000 option barriers said to be large

  • Option barriers attract defence from those who will profit if they hold

  • Other's tend to piggy back that defence, to add resistance

  • Break of 1.2000 targets 50% Fibo at 1.2026 and 100-dma 1.2054

  • Option implied volatility demand from pandemic low - 1-month 5.8 vs 5.5



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Source:
Refinitiv IFR Research/Market Commentary

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