EUR futures: scope for further retracements

Open interest in EUR futures markets shrunk for the second session in a row on Friday, this time by nearly 3.5K contracts. Volume, instead, extended the up move and rose by around 41.5K contracts, all according to preliminary figures from CME Group.

EUR/USD under pressure below 1.1200

EUR/USD failed to sustain the move beyond 1.1200 the figure amidst declining open interest and the somewhat choppy activity in volume. That said, further consolidation around current levels still appear on the cards although another test of lower levels cannot be ruled out in the near term.