EUR Futures: rally has further legs to go

Open interest in EUR futures markets rose for the fifth consecutive session on Thursday, this time by nearly 11.5K contracts according to preliminary readings from CME Group. Volume, too, went down for yet another session, now by almost 2.8K contracts.

EUR/USD focused on 1.1200 and above

The positive price action in EUR/USD is accompanied by rising open interest and volume, which keep sustaining the view of extra gains in the near term. That said, the 200-day SMA just below 1.1200 the figure emerges as the initial target.