EUR/USD FX option expiries highlight sellers' market control

FX options are set to expire today for several currency pairs, with the key focus on the EUR/USD exchange rate. The most notable expiry is at the 1.0850 level. However, it may not significantly influence the market as sellers currently dominate. Traders are looking at the 1.0800 mark closely, which is a crucial support level for EUR/USD. The 100-week moving average is also nearby at 1.0780. A drop below 1.0800 could increase selling pressure throughout the week. Additionally, the 100-hour moving average is at 1.0852 and may limit any potential rise in the EUR/USD. The market sentiment remains tilted towards sellers for now, indicating a cautious trading environment.