📊 FX Option Expiries — March 19, 2026

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■ Spot Levels

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■ Thursday (March 19)

EUR/USD

• 1.1425 (690M)

• 1.1450 (780M)

• 1.1500 (1.7B) ★ Largest

• 1.1530 (920M)

• 1.1550 (800M)

• 1.1560 (560M)

• 1.1575 (540M)

• 1.1580 (880M)

• 1.1590 (1.2B)

• 1.1650 (550M)

👉 Spot 1.1473

• 1.1500 = dominant pin level

• Next upside attraction: 1.1580–1.1590 zone

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USD/JPY

• 159.00 (800M)

👉 Spot 159.66

• Options positioned below

• Suggests mild pullback pressure toward 159

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GBP/USD

• 1.3200 (680M)

• 1.3350 (850M) ★ Largest

• 1.3400 (520M)

👉 Range fixation around 1.33

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AUD/USD

• 0.6950 (2.0B) ★ Largest

• 0.7125 (500M)

👉 Spot 0.7037

• 0.6950 = major downside defense

• Range centered in the 0.70 area

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NZD/USD

• 0.5940 (850M)

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■ Friday (March 20)

EUR/USD

• 1.1350 (910M)

• 1.1370 (1.4B)

• 1.1380 (750M)

• 1.1400 (1.5B)

• 1.1450 (1.0B)

• 1.1460 (770M)

• 1.1465 (780M)

• 1.1500 (1.6B) ★ Major

• 1.1550 (730M)

• 1.1580 (710M)

• 1.1645 (610M)

• 1.1650 (750M)

👉 1.1400–1.1500 = ultra-dense pin zone

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AUD/USD

• 0.6900 (1.2B)

• 0.7050 (1.1B)

• 0.7100 (580M)

• 0.7200 (1.0B)

👉 0.7050 = central range level

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■ Overall Structure

✔ EUR/USD
→ 1.1500 central pin with strong support around 1.1400 zone

✔ USD/JPY
→ Pullback pressure toward 159

✔ GBP/USD
→ 1.33 range-bound structure

✔ AUD/USD
→ 0.6950 strong support + 0.7050 center range

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■ Market Implication

👉 Late-week market structure is clearly:

“Fully option-dominated, range-constrained environment”

Key characteristics:

• Trend-following becomes less effective

• Price gravitates toward key option strikes

• Breakouts tend to fail

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🎯 Trading Insight

Best approach:

👉 Fade moves around NY cut timing

• Sell highs / buy lows within range

• Target reversion toward option magnets

• Avoid chasing breakouts

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📌 One-line takeaway

“Late-week option control — range trading > trend trading.”