EUR futures: rising odds for extra decline

Open interest in EUR futures markets dropped by around 3.1K contracts on Tuesday from Monday’s final 523,272 contracts, recording the fourth consecutive pullback according to preliminary figures from CME Group. On the flip side, volume rose significantly by nearly 89K contracts following three drops in a row.

EUR/USD attention is now back to 1.1300

EUR/USD has come under renewed downside pressure as of late amidst rising volume and a persistent drop in open interest. That said, while some consolidation is not ruled out in the very near term, a probable re-test of the 1.1300 area has now emerged on the horizon.