EUR Futures: Scope for extra gains
|CME Group’s preliminary readings for EUR futures markets showed open interest rose by 5.4K contracts on Friday, extending the choppiness seen as of late. Volume, too, rose by around 27.5K contracts, recording the second build in a row.
EUR/USD faces resistance in the 1.0879/86 band
EUR/USD has so far managed to rebound from 2020 lows in the 1.0780 region (February 20th). Rising open interest and volume allows for some extension of the so far corrective upside, although strong barrier is expected to emerge in the 1.0879/86 band, where coincide October 2019 lows and a Fibo retracement of the 2020 drop.
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