AUDUSD: Curious about the 0.6882-0.6887 zone and implied volatility
Been watching $AUDUSD today and noticed it's dipping hard, currently around 0.68878. The daily low is 0.68824. It feels like this 0.6882-0.6887 zone has been a bit of a magnet, or at least a key area of contestation for a while now, bouncing off it fairly often. Given the intraday range already, I'm thinking about how the options market is pricing things for the next few days. Does anyone else see this as a potentially interesting pivot point for short-term implied volatility? If we break cleanly below that 0.6882 level and hold, I'd probably re-evaluate, but for now, I'm curious if others are seeing potential for a bounce or consolidation here and how that might impact straddles or iron condors expiring soon. Thoughts?