EUR futures: rebound seen as corrective

According to preliminary figures for EUR futures markets from CME Group, investors scaled back their open interest positions by around 4.7K contracts on Friday, while volume shrunk by around 102.1K contracts.

EUR/USD now targets the 55-day SMA

EUR/USD continues to extend the recent rebound from yearly lows near 1.1100 the figure. However, declining open interest and volume should leave occasional attempts limited and facing the next resistance at the 1.1240 region, where sits the 55-day SMA.