EUR futures: upside appears limited

In light of CME Group’s preliminary figures for EUR futures markets, traders added more than 1.4K contracts to their open interest positions on Wednesday vs. Tuesday’s final 440,384 contracts. In addition, volume increased by more than 10.3K contracts, reverting three consecutive drops.

EUR/USD still capped by 1.1660

EUR/USD managed to bounce off yesterday’s lows in the 1.1600 neighbourhood, although the upside stays limited by the ‘neckline’ around the 1.1660 area. The up move has been in tandem with an uptick of open interest and a moderate increase in volume, leaving the broader scenario unchanged for spot, at least in the near term.