EUR/USD steadies around 20-year low above 1.0150 as bearish bias eases in options market

Anil Panchal FXStreet

EUR/USD struggles for clear directions while taking rounds to 1.0180-70 during Thursday’s Asian session, after bouncing off the lowest levels since late 2002 the previous day. The major currency pair’s latest inaction could be linked to the cautious mood of traders ahead of the key data/events, as well as options market signals.

That said, the daily risk reversal (RR) for the EUR/USD, the spread between the call options and the put options, eases to -0.055 by the end of Wednesday’s North American trading session.

It’s worth noting that the EUR/USD RR slumped the most on a day since June 13 during Monday.

Given the options market player’s indecision, EUR/USD traders should wait for today’s ECB Monetary Policy Meeting Accounts (mostly known as ECB Minutes), as well as the US ADP Employment Change for June, expected 200K versus 128K prior, for clear directions.

Read: EUR/USD dribbles at multi-year low below 1.0200, ECB Minutes, US ADP Employment eyed

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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