EUR Futures: Weakness seen limited

Open interest in EUR futures markets shrunk for the fifth consecutive session on Wednesday, this time by around 3.3K contracts, according to advanced data from CME Group. Volume, instead, increased for the second session in a row, now by nearly 22.3K contracts.

EUR/USD could test 1.0768

The recent downside in EUR/USD was in tandem with shrinking open interest, leaving the probability of a deeper retracement as somewhat limited in the near term. However, rising volume could sponsor another visit to the monthly lows near 1.0770.