EUR Futures: scope for extra gains near term
|Open interest in EUR futures markets from CME Group noted investors added around 9K contracts on Tuesday, the fifth build in a row and the largest single-day increase since August 14. Volume, too, extended the uptrend and increased by around 101.5K contracts, also recording the largest daily build since July 31.
EUR/USD seen retaking 1.10 and beyond
The rebound in EUR/USD from YTD lows in the 1.0930/20 band on Tuesday was in tandem with a sharp build in both open interest and volume, allowing for the continuation of the recovery in the short-term horizon. Initial resistance is seen in the mid-1.10s, where sits the 10-day SMA.
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