EUR futures: upside still limited

CME Group’s preliminary data for EUR futures markets showed investors trimmed their open interest positions for the third consecutive session on Friday, this time by 3.1K contracts vs. Thursday’s final 560,868 contracts. Volume followed suit, down by 65.6K contracts.

EUR/USD remains offered below 1.2400

EUR/USD is now struggling for direction following recent political developments in Germany and Italy against a backdrop of declining open interest in the last three sessions. In addition, Friday’s up move has been accompanied by a significant decrease in volume, removing sustainability to the uptick. In the meantime, the pair looks offered while below the short-term resistance line, today at 1.2401.