It's not just the data we have to keep an eye on at 12.30 GMT 6 April
Large option expiry interest at 1.2875 (USD 850m) and 1.2900 (900m) loom to the topside and will feature prominently if we get strong data and a decent USD+ move from current levels of 1.2790
Always takes two sides to an option so I would expect some defence of those levels should we get up anywhere near there, then be contained as we head into the 14.00GMT expiry time. Good chart resistance up there too.
Other contracts to keep in mind but not so key are:
- EURUSD: 1.2200 (600m) 1.23000 (580m) 1.2400 (900m)
- USDJPY: 106.00 (1bln) 107.00 (500m)
Remember these are vanilla options and in play right up until expiry even if breached in the meantime, such as through US NFPs, unlike barrier options which cease to be once broken.
For more info on how to use this all data, please refer to my post here
USDCAD
