EUR futures: recovery appears tepid
|According to CME Group, preliminary figures for EUR futures markets noted investors trimmed their open interest positions by almost 2.6K contracts on Tuesday from Monday’s final 509,889 contracts. Volume, instead, increased by around 11.7K contracts.
EUR/USD upside could see 1.1656 tested
EUR/USD found some support in the 1.1530 region at the beginning of the week, sparking a subsequent rebound to the initial hurdle at 1.1630, where converges the 10-day SMA. Choppy activity in open interest and volume leaves the scenario ripe for extra consolidation, although the bearish note prevails in the near/medium term.
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