According to flash data for EUR futures markets from CME Group, open interest extended its uptrend on Friday, this time rising by around 2.2K contracts. In the same direction, volume rose for the second session in a row, now by nearly 28.3K contracts.
EUR/USD could attempt a test of 1.11 and above
EUR/USD’s recently failed in the mid-1.10s, where sits the key 55-day SMA. Rising open interest and volume looks supportive of the continuation of the up move to, initially, another test of this area of resistance and probably a move to the 1.11 neighbourhood.
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