According to flash data for EUR futures markets from CME Group, investors scaled back their open interest positions by just 849 contracts on Thursday, recording the second – albeit small – drop in a row. Volume, instead, rose by almost 26K contracts, prolonging the erratic activity.
EUR/USD faces another test of 1.1026
The leg lower in EUR/USD has broken below the 1.1100 support on Thursday and earlier today. Rising volume amidst negative price action allows for extra pullbacks, although open interest looks unconvincing and could slow the pace of the decline.
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