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Preliminary figures for EUR futures markets from CME Group noted open interest rose by around 1.1K contracts on Monday from Friday’s final 484,030 contracts. On the other hand, volume dropped by more than 21.4K contracts.

EUR/USD points to further rangebound

The recent rally in EUR/USD appears to have found strong resistance above 1.1700 the figure amidst some stabilization in open interest and declining volume. That said, the pair is likely to extend the consolidative stance in the near term, while the upcoming EU Summit and the US-China-EU trade dispute remain the key drivers for the price action this week.