EUR Futures: Room for a deeper pullback
Open interest in EUR futures markets rose for the second consecutive session on Thursday, this time by nearly 16.8K contracts according to preliminary readings from CME Group. In the same line, volume went up for yet another session and increased by around 38.1K contracts.
EUR/USD now focused on the 200-day SMA
EUR/USD has broken below the 200-day SMA on Thursday and managed to retake the 1.1200 handle amidst increasing open interest and volume. That said, further retracement is now on the cards, and a sustainable breach of the 200-day SMA in the 1.11 region could lead to a quick move to the 55-day SMA near 1.1060.