Open interest in EUR futures markets rose for the third day in a row on Tuesday, this time by nearly 12.5K contracts, the largest daily build since September 10 according to preliminary figures from CME Group. In the same line, volume reversed two consecutive drops and increased by almost 51.7K contracts.
EUR/USD now targets the 100-day SMA
Tuesday’s rebound in EUR/USD was accompanied by rising open interest and volume, opening the door for the continuation of the bounce to, initially, the 100-day SMA at 1.1124. The bullish view should be reasserted on a convincing breakout of monthly tops beyond 1.1180.
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