EUR futures: upside appears limited

According to CME Group’s preliminary figures for EUR futures markets, investors trimmed their open interest positions by around 5.3K contracts on Friday from Thursday’s final 533,368 contracts. On the other hand, volume rose by nearly 14.8K contracts after two consecutive drops.

EUR/USD strong resistance lies at 1.1690

EUR/USD has recently broken above the key resistance line in the upper-1.1500s and managed to close above 1.1600 the figure. The up move, however, seems to have run out of legs in the mid-1.1600s so far amidst shrinking open interest and an uptick in volume.