In light of preliminary data from CME Group, investors trimmed their open interest positions by around 4.6K contracts on Wednesday, reversing at the same time two builds in a row. In the same direction, volume shrunk by nearly 60.5K contracts.
EUR/USD appears supported near 1.1060… for now
The positive price action in EUR/USD was accompanied by shrinking open interest and volume, hinting at the idea that extra gains look somewhat limited at least in the near-term horizon. In the meantime, the focus remains on the downside, where the 100-day SMA in the 1.1060 region keeps acting as quite a solid contention.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.