EUR futures: potential rebound near term

CME Group’s preliminary figures for EUR futures markets saw open interest decreasing by more than 6.4K contracts on Wednesday vs. Tuesday’s final 514,736 contracts. On the other side, volume increased by almost 56K contracts.

EUR/USD could re-test 1.19/1.20

EUR/USD briefly tested YTD lows in the vicinity of 1.1760 on Wednesday although it managed to rebound and close with marginal losses. The rebound from lows was accompanied by declining open interest and a significant increase in volume, which could leave the door open for a potential visit to the 1.19/1.20 band in the near term.

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