EUR futures: rebound stays healthy

In light of CME Group’s preliminary figures for EUR futures markets, open interest rose by more than 8.5K contracts on Tuesday from Monday’s 442,721 contracts. IN the same direction, volume rebounded sharply by more that 131.5K contracts, almost fully reverting the previous’ day drop.

EUR/USD key area remains 1.1835/40

EUR/USD is posting its fourth consecutive advance today, adding to yesterday’s gains above the 1.1800 handle and supported at the same time by rising both open interest and volume.

While the rebound is expected to continue in the very near term, the pair is seen facing strong resistance in the 1.1835/40 area, where converge the 55- and 21-day sma.

The key risk event for the pair will be the publication of the FOMC minutes, due later in the European evening.