URGENT UPDATE: FX option expiries are set for November 24 at 10 AM New York time, but traders should note the absence of any significant expiries that could disrupt market stability. As a result, trading sentiment will likely remain focused on the prevailing risk mood affecting currency pairs.
Market watchers are closely monitoring the Japanese yen, which has faced continued selling pressure in recent weeks. Additionally, traders should pay attention to the AUD/USD pair, which is teetering on the brink of a critical consolidation range between 0.6420 and 0.6600 that has held since June. A surge in risk-off sentiment could threaten a breakdown in this range, making it imperative for investors to stay alert.
While the day lacks major expiries, the risk sentiment will continue to drive trading decisions. Experts suggest that heavier risk selling could trigger significant movements, particularly for those managing positions in AUD/USD.
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As the market braces for these developments, traders should prepare for potential volatility as the clock ticks down to Friday’s expiries. Stay tuned for further updates as the situation evolves.
