EUR futures: upside limited near term
|In light of advanced figures for EUR futures markets from CME Group, investors trimmed their open interest positions by around 3.9K contracts on Thursday from Wednesday’s final 544,980. Volume followed suit, shrinking by 29.3K contracts after two consecutive builds.
EUR/USD seen receding to 1.1300
EUR/USD’s up move on Thursday was on the back of diminishing open interest and volume, removing tailwinds from the rebound and opening the door to a potential leg lower to the 1.1300 neighbourhood.
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