EUR/USD breaks below 1.10; barriers might slow it down a bit

  • EUR/USD is extending losses on the day as it breaked below the 1.10 level earlier
  • No doubt that sentiment remains very bearish and the downtrend is set to continue in the long-term
  • However, in the short-term, barriers and option-related flows might slow downside momentum a bit
  • €2 billion worth of options are expiring tomorrow at 1.10
  • Barrier options are expected at at 1.0950 and 1.09
  • Looking at the monthly chart, 1.0750/60 (Summer 2003 lows) is the next key support area

EURUSD

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