In light of advanced data for EUR futures markets from CME Group, investors trimmed their open interest positions by almost 3.4K contracts on Friday from Thursday’s final 515,785 contracts. Volume followed suit, down by nearly 74.8K contracts.
EUR/USD upside capped by 55-day SMA
The recent up move in EUR/USD remains capped by the 1.1260/70 band, where sits the key 55-day SMA and previous tops. Shrinking open interest and volume amidst the positive price action on Friday hints at the likelihood that extra upside appears unlikely for the time being.