EUR futures: further rangebound still prevails
|According to flash data for EUR futures markets from CME Group, investors trimmed their open interest positions by more than 8.1K contracts on Tuesday vs. Monday’s final 519,330 contracts. In addition, volume rose for the second straight session, this time by more than 24.3K contracts.
EUR/USD stalled ahead of 1.2500
The upside momentum around EUR/USD failed to extend the move beyond Tuesday’s tops near 1.2480, sparking the current leg lower amidst shrinking open interest. The recent increase in volume amidst declining prices opens the door for a deeper correction, although the broader consolidative picture should stay unchanged for the time being.
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