Open interest in EUR futures markets rose by around 3.8K contracts on Tuesday from Monday’s final 494,697 contracts, recording the fourth consecutive build according to advanced data from CME Group. On the other hand, volume dropped for yet another session, this time by around 4.2K contracts.
EUR/USD could face some consolidation near term
The recent decline in EUR/USD has halted just ahead of YTD lows on Tuesday, all amidst the continuation of the up trend in open interest and shrinking volume. That said, spot could attempt some consolidation in the near term ahead of a potential deeper retracement.
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