EUR futures: decline could take a breather

According to preliminary figures for EUR futures markets from CME Group, investors scaled back their open interest positions by nearly 1.4K contracts on Wednesday from Tuesday’s final 486,804 contracts. On the other direction, volume rose for the second consecutive day, this time by around 52.8K contracts.

EUR/USD still targets 2019 lows at 1.1180

Yesterday’s negative performance in EUR/USD was in tandem with rising volume and a moderate drop in open interest, which could open the door for some consolidation in the near term although the likeliness of another visit to yearly lows around 1.1180 still remains well on the cards.