In light of flash data for EUR futures markets from CME Group, open interest rose by around 29.6K contracts at the beginning of the month, reaching the largest single-day increase so far this year. Volume, too, rose for the second session in a row, this time by nearly 53K contracts.
EUR/USD now targets the 21-day SMA around 1.10
EUR/USD rebounded sharply on Tuesday following the sudden bout of selling pressure in the Greenback on poor results in the docket. Rising open interest and volume accompanied the squeeze higher and left the door open for a potential continuation of the corrective move to, initially, the 21-day SMA just above 1.10 the figure.
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