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EUR Futures: Upside seems contained

Open interest shrunk for the second session in a row on Friday, this time by nearly 7.2K contracts according to flash data from CME Group. On the other hand, volume rose for the third straight session, now by around 64.3K contracts.

EUR/USD does not rule out some consolidation

Friday’s significant advance in EUR/USD was on the back of declining open interest, signalling the presence of short covering behind the daily recovery. The moderate uptick in volume, however, could add to the idea that some consolidative mood could emerge around the pair in the near-term.

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