EUR Futures: Bullish attempts look unsustainable
In light of preliminary data from CME Group, investors trimmed their open interest positions by around 4.6K contracts on Wednesday, reversing at the same time two builds in a row. In the same direction, volume shrunk by nearly 60.5K contracts.
EUR/USD appears supported near 1.1060… for now
The positive price action in EUR/USD was accompanied by shrinking open interest and volume, hinting at the idea that extra gains look somewhat limited at least in the near-term horizon. In the meantime, the focus remains on the downside, where the 100-day SMA in the 1.1060 region keeps acting as quite a solid contention.