FX option expiries for May 11 include EUR/USD at 1.1725-50

Key FX option expiries for the May 11 New York cut at 10am are set, with notable strikes in EUR/USD at the 1.1725-50 levels. These expiries do not align with major technical levels but could help stabilize price action during European morning trade, especially if risk sentiment remains subdued. The dollar is holding firmer on the day, supported by ongoing US-Iran tensions that continue to drive trading sentiment.

The US-Iran conflict remains the primary risk factor for currency markets. The latest development is that US President Trump has rejected Iran's proposal, calling it "TOTALLY UNACCEPTABLE!" This has kept safe-haven demand for the dollar elevated. For forex traders, the expiries at 1.1725-50 may act as a magnet or a barrier, potentially limiting any downside in EUR/USD during the European session. Traders can monitor real-time price action on NowPrice's live FX dashboard to track how these levels hold.

Looking ahead, the key focus remains on any further headlines from the US-Iran situation. Any escalation could trigger a sharp risk-off move, boosting the dollar and yen, while a de-escalation could lead to a relief rally in risk currencies. Additionally, traders will watch for any comments from Fed officials or economic data that could shift rate expectations. The expiries themselves will unwind by 10am New York, so their influence is limited to the morning session.