EUR/USD still on the drift lower ahead of US stock market reopening

There has been no rebound in the EUR/USD today. In fact it has been a perpetual drift lower. The EUR/USD has fallen closer to the 1.0900 handle since the last update here noted it falling below 1.0920. The low seen so far has been set at 1.0907. Clearly, it is under pressure, but the price action remains sticky at the same time. There is a pretty large option expiry set for the New York cut today, at 1.0900 and that is said to be in the region of 1.1 billion Euros. Of course it depends on whether that is a digital, no-touch expiry, or simply a put or a call, as to whether the level will be defended, or not. The reader is once again reminded; that if 1.0900 is reached and does not cap the downside this afternoon, there lies a big level a little lower down, at 1.0874- the 200 day moving average. The EUR/USD is currently trading at 1.0910