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Open interest in EUR futures markets rose for the second consecutive session at the beginning of the week, now by nearly 1.3K contracts according to preliminary figures from CME Group. On the other hand, volume reversed two builds in a row and shrunk by around 4.2K contracts.

EUR/USD targets the 1.0880/90 band

The recovery in EUR/USD appears to have further legs to go amidst rising open interest, although the downtick in volume warns some caution. That said, the pair still faces a strong resistance in the 1.0880/90 band, where coincide a Fibo retracement and the October 2019 low.