EUR Futures: Downside losing traction?
|Open interest in EUR futures markets went down by just 110 contracts on Thursday, reaching the second drop in a row according to flash readings from CME Group. Volume followed suit and shrunk by around 47.5K contracts, prolonging the erratic performance.
EUR/USD faces the next support at 1.0814
EUR/USD extended the downside on Wednesday amidst declining open interest and volume, hinting at the likeliness that the idea of a deeper pullback could be running out of steam. That said, the next key support emerges at the Fibo retracement at 1.0814 ahead of the February’s low at 1.0777.
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