EUR Futures: still room for a rebound

According to advanced data for EUR futures markets from CME Group, open interest shrunk by around 73.4K contracts on Wednesday, the largest single day drop so far this year. In the same direction, volume prolonged the choppy activity and dropped by nearly 13.5K contracts.

EUR/USD could re-test 1.1100

EUR/USD is extending the erratic performance so far this week. Wednesday’s down move was accompanied by shrinking volume and open interest, opening the door for a probable rebound with the immediate target at recent tops in the key 1.1100 neighbourhood.