EUR futures: rallies appear capped

Latest preliminary figures for EUR futures markets from CME Group saw investors adding around 760 contracts to their open interest positions on Wednesday from Tuesday’s final 532,137 contracts. On the other hand, volume dropped significantly by almost 65.3K contracts.

EUR/USD faces tough resistance at 1.1630

The recent rally in EUR/USD run out of legs ahead of the critical hurdle at 1.1630, while yesterday’s uptick was amidst a small increase in open interest and an important decline in volume, opening the door for a deeper retracement in the near term.