A look at what is on the board for today
- EUR/USD: 1.1800 (€1.6bn)
- USD/JPY: 108.00 ($615m), 108.80 ($560m), 109.30 ($1.3bn), 110.00 ($691m)
- USD/CAD: 1.2505 ($700m), 1.2550 ($500m)
- AUD/USD: 0.7500 (A$459m)
- EUR/GBP: 0.8550 (€800m), 0.8600 (€1.1bn), 0.8615 (€586m), 0.8625-30 (€815m)
A couple of large ones to take note, as highlighted in bold.
In particular, the large one at 1.1800 for EUR/USD adds a layer to where buyers are putting up their defense for the time being.
The low yesterday (1.1810) and today (1.1804) reaffirms that the 1.1800 handle is a key level that buyers are holding off for now after the break below the early March lows @ 1.1836 and the 200-day moving average.
Besides that, there is a host of big ones in around the spot price for EUR/GBP that could keep price action more contained in the session ahead.
Looking out to tomorrow, there is little left on the board for now:
– 0.7765 (A$1.7bn) 26/3