In light of preliminary figures for EUR futures markets from CME Group, investors reduced their open interest positions by around 2.8K contracts on Monday from Friday’s final 579,461 contracts. In the same direction, volume receded by more than 2.8K contracts, recording the third drop in a row.
EUR/USD upside limited above 1.1800
The recent up move in EUR/USD has been accompanied by decreasing open interest and volume, hinting at the idea that levels above the key 1.1800 handle pose quite a tough resistance for EUR-bulls, at least in the near term and ahead of the key ECB gathering (Thursday).
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