EUR/USD Breaks Below 200-Day MA at 1.1681 on Risk-Off, 1.1675 Expiry Fades

EUR/USD has broken below its 200-day moving average at 1.1681, accelerating downside momentum after trading in a 1.1681–1.1800 range since mid-April, with risk-off flows from US–Iran headlines bolstering the dollar. Yesterday's option expiries clustered at 1.1700–1.1750 limited intraday action near the 100-day MA at 1.1707, while the 200-day MA at 1.1682 acted as a key floor. Today's 1.1675 expiry for the 10am New York cut is deemed unlikely to influence amid dominant technical breach and fundamentals. Broader risks like the Trump–Xi Beijing meeting and Strait of Hormuz closure persist.