Magnetic attraction ahead?

Now that the US data is out of the way and there have been no major surprises, EUR/USD may gravitate toward the 1.4400 level where a significant options expiry is rumored. In quiet markets, prices tend to gravitate close to strike prices as the holder of the option and the writer of the option hedge their exposures.

Central bank buying seems to have cushioned the downside ahead of 1.43520 in the short-term while offers in the high 1.4380s are containing rebounds.