AUDUSD delicately poised as the clock ticks down 9 Feb
We've been warning for the past few days and again this morning about large ( c. AUDUSD 2.6bln) of contracts rolling off at 0.7800 today.
There's always two side to an option trade and while the sell-side will be happy with the push down to 0.7760 we've seen some demand this morning in an attempt to push it back over. Sellers prevailing at the moment but don't rule out another attempt as expiry time gets closer.
Meanwhile range should remain contained. Keep an eye on AUDJPY, AUDNZD and AUDGBP where's there some decent action going on too.
Remember these are vanilla options and in play right up until expiry even if breached in the meantime unlike barrier options which cease to be once broken.
For more info on how to use this all data, please refer to my post here.
