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FX option expiries for 13 January 10am New York cut

There is arguably just one to take note of on the day, as highlighted in bold below.That being for AUD/USD at the 0.6700 level. The pair is not up to much today, with the dollar steadying now after a slight drop in the day before. The drag from Trump’s attack on Fed independence isn’t striking deep, with Fed market pricing still showing that the central bank will stick to its guns and not cut rates up until Powell departs at least.The expiries above do sit near the confluence of the 100 and 200-hour moving averages at 0.6703-06, so put together they might offer some supportive layer for the pair during the session. A drop back under will keep sellers interested as the upside run since the end of November for AUD/USD starts to consolidate a little.So, the expiries could just act as a bit of a magnet amid some stretching to the daily range later; all else being equal with dollar sentiment that is. And there might not be much conviction for traders to gather in any case, that until we get to the US CPI report later in the day.For more information on how to use this data, you may refer to this post here.Head on over to investingLive (formerly ForexLive) to get in on the know!
This article was written by Justin Low at investinglive.com.

๐Ÿ”— Source

๐Ÿ’ก DMK Insight

AUD/USD is hovering around the 0.6700 level, and here’s why that matters: With the dollar stabilizing after a recent dip, traders should keep an eye on this key support level. If AUD/USD breaks below 0.6700, it could trigger further selling pressure, especially with the backdrop of geopolitical tensions like Trump’s recent comments. This could lead to a shift in sentiment, impacting not just AUD/USD but also related pairs like NZD/USD and even commodities like gold, which often move inversely to the dollar. On the flip side, if the pair manages to hold above 0.6700, it might signal a potential rebound, giving bulls a chance to push higher. Watch for any economic data releases or comments from central banks that could influence the dollar’s strength. The next few days will be crucial for determining whether this level holds or breaks, so set alerts around 0.6700 to stay ahead of the action.

๐Ÿ“ฎ Takeaway

Monitor the 0.6700 level in AUD/USD closely; a break could lead to increased selling pressure, while a hold may signal a rebound.

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