EUR Futures: shrinking odds for a move higher

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In light of preliminary figures for EUR futures markets from CME Group, investors scaled back their open interest positions for the second session in a row, this time by around 15.3K contracts. In the same direction, volume went down by around 10.3K contracts, reaching the second straight drop.

EUR/USD still capped by 1.1100

The gradual recovery in EUR/USD was in tandem with declining open interest and volume, showing some absence of conviction to extend the move further up. That said, the 1.1100 neighbourhood is still seen as a strong resistance in the near term.

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