📊 FX Option Expiries — March 26, 2026 (NY Cut Focus)

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■ Spot Levels

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■ Thursday (March 26)

EUR/USD

• 1.1450 (880M)
• 1.1500 (3.2B) ★ Largest
• 1.1525 (690M)
• 1.1575 (630M)
• 1.1600 (1.4B)
• 1.1700 (660M)
• 1.1750 (600M)

👉 Spot 1.1568

• 1.1500 = massive pin (core magnet)
• Upside: 1.1600 = secondary magnet

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USD/JPY

• 158.00 (790M)
• 160.00 (560M)

👉 Spot 159.42

👉 Range lock: 158–160

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GBP/USD

• 1.3350 (1.1B) ★ Largest

👉 Spot 1.3362

👉 Almost perfect pin at 1.3350

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USD/CAD

• 1.3750 (510M)

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AUD/USD

• 0.6900 (1.2B) ★ Largest

👉 Spot 0.6952

👉 Strong downside defense at 0.6900

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■ Friday (March 27)

EUR/USD

• 1.1550 (730M)
• 1.1575 (1.5B) ★ Largest
• 1.1600 (750M)
• 1.1650 (500M)
• 1.1665 (710M)

👉 1.1575 = central pin structure

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USD/JPY

• 159.00 (590M)

👉 Pin pressure toward 159

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GBP/USD

• 1.3300 (570M)
• 1.3400 (540M)
• 1.3450 (750M) ★ Largest

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USD/CAD

• 1.3800 (580M)

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AUD/USD

• 0.6900 (510M)
• 0.6950 (740M)
• 0.7000 (810M)
• 0.7100 (690M)

👉 0.6950–0.7000 = central range zone

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■ Overall Structure

✔ EUR/USD

• Thu: 1.1500 massive pin
• Fri: 1.1575 center

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✔ USD/JPY

• Range-bound: 159–160

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✔ GBP/USD

• 1.3350 pin → upside 1.3450

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✔ AUD/USD

• 0.6900 strong support + 0.70 range

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■ Market Implication

👉 This is a classic:

“Fully option-dominated + range-constrained market”

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Key characteristics:

• Trends are suppressed
• Price gravitates toward option strikes
• Breakouts are likely to fail (false moves)

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🎯 Trading Insight

👉 Best approach:

• Fade moves into extremes
• Trade around NY cut timing
• Focus on mean reversion strategies

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Avoid:

❌ Trend chasing
❌ Breakout entries

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📌 One-Line Summary

👉 “Option gravity dominates — range trading environment.”