Currency option expires June 1 at 10:00 am New York discount

There are two to consider, as highlighted intrepid.

And both are at 1.0700 and around 1.0725-35 for EUR/USD. Among them is the 100 hourly moving average for the pair, currently at 1.0711, so all this put together should act as a sort of defensive layer for sellers to try to maintain the downward momentum.

Adding to the mix will be Eurozone CPI data coming later, but for now, dollar sentiment remains a major driver, especially after yesterday’s Fed statements.

If anything else, we could see price action at least close to the 1.0700 mark and also more limited in and around it.

For more information on how to use this data, you can refer to this post here.