EUR Futures: upside seen as corrective only

Open interest in EUR futures markets dropped for the fourth consecutive session on Monday, this time by just 134 contracts, according to preliminary data from CME Group. Volume, in the same line, shrunk by around 28.8K contracts.

EUR/USD faces strong resistance above 1.1300

The up move in EUR/USD has gathered unexpected traction, leaving behind the 1.1200 barrier and May’s peaks, while shifting its attention to the 1.1300 region. However, choppy activity in volume and declining open interest could prompt the current trend to reverse in the near term.