EUR Futures: Upside looks limited

Open interest in EUR futures markets resumed the downtrend on Friday and shrunk by just 393 contracts, partially fading the previous pullback, according to flash data from CME Group. In the same line, volume dropped for the second session in a row, this time by nearly 8.8K contracts.

EUR/USD could test 1.0770

Friday’s positive price action in EUR/USD was accompanied by declining open interest and volume, hinting at the likeliness that occasional bullish attempts remain somewhat limited. That said, a visit to April’s low in the 1.0770/65 band in the short-term horizon would not be surprising.