Today sees a large number of option contracts on AUDUSD 26 May 2016
As per my earlier option post we have AUD 1.08bln rolling off today at 0.7210 at 14.00 GMT and the price action is expected to remain contained in the meanwhile.
After the post-capex data fall in Asia we saw a concerted attempt to recover from the lows and that suggests a need to get it back above 0.7210 but similarly we still have good sell interest elsewhere around 0.7220-25.
Keep your eye on the pair into expiry time for further clues. Currently 0.7213.
Remember that these are "vanilla" options so still in play right up to expiry at 14.00 GMT even if breached in the meantime.
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