EUR futures: deeper pullback on the cards

Preliminary data for EUR futures markets from CME Group noted investors added around 7.7K contracts to their open interest positions on Tuesday from Monday’s final 521,865 contracts. Volume, instead, shrunk by around 62.4K contracts, recording the second consecutive drop at the same time.

EUR/USD potential for a break below 1.1300

EUR/USD continues to drift lower amidst rising open interest, which leaves the door open for a test of the 1.1300 area (November 2016 high) in the near term. The recent significant drop in volume, however, could slow down the pace of the down move.