In light of advanced data for EUR futures markets from CME Group, investors trimmed their open interest positions for the fifth consecutive session on Tuesday, this time by just 62 contracts. On the other hand, volume prolonged the choppy performance and rose by around 27.3K contracts.
EUR/USD meets strong resistance at the 100-day SMA
The leg higher in EUR/USD appears to be holding well despite failing to move further north of the 100-day SMA, today at 1.1275, on a more sustainable fashion. Persistent shrinking open interest plays against a more serious move higher and opens the door for the resumption of the downtrend in the short-term horizon.
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