Only one notable FX option expiry stands out for the 10 August 10am New York cut: EUR/USD at the 1.1575 strike level.

These expiries sit just above the 100-day moving average, currently at 1.1567, creating a layered resistance zone. Should buyers attempt to push EUR/USD higher during the session, they will need to contend with both the technical moving average and the option-related interest concentrated at 1.1575.

That same technical level capped EUR/USD upside following the latest US jobs report. Friday's daily close fell short of breaching the 100-day moving average, reinforcing its significance as a key technical threshold. With the July US CPI report scheduled for release on Wednesday, this level remains the most critical technical reference point for traders in the near term. CPI is the Federal Reserve's preferred inflation barometer for assessing progress toward its 2 percent target, and the print will shape market expectations for the timing and magnitude of future rate adjustments, which directly influence the dollar's trajectory.

For today's session, the option expiries at 1.1575 add further weight to the resistance zone, likely keeping price action contained below it. The economic calendar is notably sparse, and tomorrow's data docket remains relatively light as well. This thin schedule allows traders and investors to maintain their focus on the upcoming US inflation data while monitoring geopolitical developments.

Tensions in the Middle East remain a significant market factor. The United States and Iran continue to engage in military conflict, and the situation surrounding the Strait of Hormuz remains uncertain. The Strait of Hormuz is a critical chokepoint through which roughly a fifth of global oil supply transits, and any disruption there carries implications for energy prices and broader risk sentiment. These developments are likely to keep markets on edge leading into Wednesday's CPI release, which is the primary scheduled event for the week.

FX option expiries at the 10am New York cut are widely tracked by market participants as large notional amounts rolling off near specific strike prices can influence intraday price action, often causing currencies to gravitate toward or stall at those levels as hedging activity unwinds. The original analysis is available at InvestingLive.