EUR futures: rallies appear capped

According to CME Group’s preliminary figures for EUR futures markets, investors scaled back their open interest positions by around 3.2K contracts on Friday vs. Thursday’s final 523,236 contracts. On the other hand, volume rose significantly by nearly 66K contracts.

EUR/USD now aims for 1.1508

Friday’s pullback in EUR/USD was on the back of an important build in volume, while open interest remained choppy. That said, the 1.1508 level has re-emerged as the next target, while occasional bullish attempts should appear somewhat shallow.