FX option expiries for 31 March 10am New York cut

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There are a few to take note of on the day, as highlighted in bold below.The first being for EUR/USD at the 1.1500 level. The expiries are large in size and so could act as a bit of a ceiling to price action on any upside extensions. The dollar has been keeping firmer since last week already, with the pair poised for six straight days of declines. So, the trend does reaffirm that the downside pressure appears to be more persistent currently.Even as risk sentiment may be faring better today after the Wall St Journal report on Trump mulling over ending the war without reopening the Strait of Hormuz, it might prove to be a false dawn. As said before, nothing changes for markets until something changes on the Strait of Hormuz. So, keep that in mind.The dollar is still holding steadier so far today, even as we see equities nudge a bit higher. So, it does show that traders are not getting too carried away just yet.Then, there is one for USD/CHF at the 0.7950 level. The pair has breached above its key daily moving averages at the end of last week. That is the first time it pushes above both key technical levels since April last year. That being said, the 0.8000 level is still keeping things in check.For now, buyers will stay poised in keeping above the 200-day moving average at 0.7943. The short-term momentum is also relying on the 100-hour moving average at 0.7953 currently. So, the expiries might just add another layer in helping buyers stay interested on any light pullbacks.And lastly, there is one for AUD/USD at the 0.6825 level. That rests close to the 100-day moving average at 0.6818 with the pair continuing to fall since last week. The drop this week sees a fresh two-month low for AUD/USD, reaffirming that sellers remain in control as the US-Iran conflict extends and higher oil prices remain.The expiries could pair up with the key technical level above in limiting the downside for today. However, things can quickly turn uglier if risk sentiment falters and we get a break of the key level.For more information on how to use this data, you may refer to this post here.Apart from that, do be reminded that month-end trading may also be a factor today. In that lieu:Dollar buying looks to be the flavour this month-endMonth-end flows point to dollar buying into the fix - BofA This article was written by Justin Low at investinglive.com.