EUR futures: neutral/bearish near term

CME Group’s preliminary figures for EUR futures markets noted open interest rose by more than 1.9K contracts on Thursday from Wednesday’s final 519,591 contracts. On the flip side, volume went down by nearly 69.4K contracts, reverting two consecutive daily builds.

EUR/USD still targets 1.1300

EUR/USD’s rejection from tops near 1.1500 the figure on Wednesday sparked the ongoing knee jerk amidst an up tick in open interest and a moderate drop in volume. That said, the pair could extend the consolidative theme although another visit to the 1.1300 neighbourhood is not ruled out.