EUR Futures: upside looks limited
|Open interest in EUR futures markets shrunk by nearly 4.4K contracts on Thursday and reversed five consecutive daily builds, according to preliminary data from CME Group. On the other hand, volume rose to the highest level so far this year, extending the uptrend for the third consecutive session.
EUR/USD stays capped by 1.1080/90
Volatility in EUR/USD increased on Thursday following the ECB event. After testing the area of 2019 lows near 1.0920, spot managed to rebound sharply and challenge monthly tops in the 1.1085/90 band, where it lost momentum. That said, and amidst diminishing open interest, rallies need to surpass this key resistance area in order to allow for extra gains on a more sustainable fashion.
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