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According to advanced data for EUR futures markets from CME Group, investors scaled back their open interest positions by 179 contracts on Tuesday from Monday’s final 500,701 contracts. Volume, instead, rose significantly by around 44.1K contracts.

EUR/USD further range bound lies ahead

EUR/USD met a tough hurdle in the 1.1730 area on Tuesday, where sits the key short-term resistance area, sparking a correction lower amidst a marginal drop in open interest and a moderate build in volume. That said, the scenario of further consolidation in the near term appears unchanged for the time being.