EUR futures: upside appears exhausted

According to preliminary figures for EUR futures markets from CME Group, investors kept trimming their open interest positions on Wednesday, this time by almost 66.2K contracts, recording the fourth consecutive drop. In the same line, volume shrunk by around 27.6K contracts.

EUR/USD gains appear capped above 1.1700

EUR/USD appears consolidative in the near term, while further upside is poised to face formidable resistance above 1.1700 the figure for the time being. Yesterday’s indecision session was on the back of diminishing volume and open interest, adding to the mentioned view.