EUR futures: dips appear shallow
CME Group’s preliminary figures for EUR futures markets noted investors scaled back their open interest positions by just 653 contracts on Thursday vs. Wednesday’s final 527,628 contracts. In the same tone, volume shrunk by around 51.8K contracts, extending the choppy performance so far this week.
EUR/USD supported by 100-day SMA near 1.1480
Yesterday correction lower in EUR/USD was on the back of a small down tick in open interest and quite a moderate drop in volume, hinting at the likeliness that further downside seems limited for the time being. That said, the 100-day SMA around 1.1480 should offer initial contention.