In light of preliminary data from CME Group, investors trimmed their open interest positions by around 4.6K contracts on Wednesday, reversing at the same time two builds in a row. In the same direction, volume shrunk by nearly 60.5K contracts.
EUR/USD appears supported near 1.1060… for now
The positive price action in EUR/USD was accompanied by shrinking open interest and volume, hinting at the idea that extra gains look somewhat limited at least in the near-term horizon. In the meantime, the focus remains on the downside, where the 100-day SMA in the 1.1060 region keeps acting as quite a solid contention.
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