• Huge FX option strikes at 1.1200 (€1.8bln) and 1.1250-55 (€3.5bln) expire at 10-am New York cut Friday

• Soon-to-expire FX option attract the largest hedging flows and can add to support/resistance at the strikes

• EUR/USD currently trading well inside these option strike parameters so far on Friday - 1.1212-43 (EBS)

• Key tech support is Monday's 16-month low 1.1161, resistance at Tues recovery high 1.1276 and Fri's 1.1285 high

• 1.1290 is 23.6% Fibo retrace of 1.1711-1.1161 drop. Sellers touted 1.1310-30 - where French debt breakdown began Oct 1

• Option prices ease as spot consolidates into long US holiday weekend, but keep danger premium on the downside
EUR/USD daily chart (EBS)

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