According to advanced figures for EUR futures markets from CME Group, investors added around 19K contracts on Tuesday from Friday’s 535,594 contracts, the larges daily advance since March 26. In the same line, volume recorded its largest daily build so far this year, up by more than 386K contracts.
EUR/USD support lies around 1.1500
The massive spike in volume in tandem with increasing open interest and declining prices is a bearish signal that opens the door for a visit to levels below the 1.1500 handle in the next weeks. However, price action around EUR/USD remains largely influenced by uncertainty stemming from Italian politics and upcoming key US data releases.
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