According to advanced figures for EUR futures markets from CME Group, open interest in EUR futures markets increased by nearly 19.2K contracts on Tuesday, the largest single day build since June 20. In the same line, volume went up by around 75.3K contracts, reaching the second consecutive build.
EUR/USD now looks to 1.1100
The negative price action in EUR/USD was on the back of rising open interest and volume, opening the door for the continuation of the down move in the near term. That said, the 1.1100 neighbourhood emerges as the next relevant support ahead of 2019 lows near 1.1020.
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