EUR futures: scope for a move higher

According to preliminary figures for EUR futures markets from CME Group, investors trimmed their open interest positions by around 1.2K contracts on Friday from Thursday’s final 478,256 contracts. In the same line, volume dropped by nearly 27.3K contracts.

EUR/USD could still test 1.1853

Friday’s down move in EUR/USD was on the back of shrinking both volume and open interest, leaving intact the chance of a potential test of June’s peak and critical hurdle at 1.1853 in the near term horizon.