EUR Futures: shrinking odds for extra weakness

CME Group’s preliminary data for EUR futures markets noted open interest shrunk by around 3.7K contracts on Monday, reaching the third consecutive drop. In the same direction, volume went down for the second day in a row, now by nearly 275K contracts.

EUR/USD could still test 1.0925

EUR/USD started the day on a negative note, briefly trading below the key 1.10 support. However, declining open interest and volume amidst falling prices leaves the door open for a potential squeeze higher. Despite another visit to 2019 lows near 1.0920 remains well on the cards, further losses beyond this point look unlikely for the time being.