According to advanced figures for EUR futures markets from CME Group, investors scaled back their open interest positions by just 472 contracts on Thursday from Wednesday’s final 494,556 contracts. In the same direction, volume shrunk significantly by nearly 65K contracts, reversing the previous build.
EUR/USD faces strong resistance at 1.1300 and above
The up move in EUR/USD has so far met strong resistance in the boundaries of the 1.1300 handle. Declining open interest and volume following Thursday’s advance warns against the sustainability of extra gains. A more relevant hurdle lies at the 1.1340 region, the 200-week SMA.
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