FX option expiries for 20 January 10am New York cut

The EUR/USD options expiry is highlighted at the 1.1650 level, which is not tied to any technical significance, suggesting limited impact. The dollar remains weak due to the ongoing Greenland situation, leading traders to punish the greenback based on erratic U.S. policy. The 200-hour moving average stands at 1.1644 and the 100-day moving average at 1.1661, crucial levels to watch in European trading. The expiries may layer on top of the key technical levels, with the emphasis on defending these lines. Buyers have regained control near-term for the first time since last year, making it vital to hold above the 200-hour moving average to maintain a bullish bias. Despite difficulties breaking above these levels overnight and in early Asia trading, the current situation develops as the dollar continues to struggle.