According to preliminary figures for EUR futures markets from CME Group, investors added just 4 contracts to their open interest positions at the beginning of the week, recording the third build in a row. On the other hand, volume shrunk once again, this time by nearly 152.3K contracts.
EUR/USD faces strong resistance at the 55-day SMA
EUR/USD is extending the gradual move higher so far this week amidst rising open interest and a sharp decrease in volume. The next barrier emerges at the 1.1360 region, where is located the 55-day SMA. Despite further upside is not ruled out in the near term, the strong drop in volume as of late opens the door for a potential retracement in the near term.
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