EUR futures: upside appears limited

According to advanced data for EUR futures markets from CME Group, investors scaled back their open interest positions by around 2K contracts on Monday from Friday’s final 551,330 contracts. In the same line, volume dropped by nearly 2.3K contracts.

EUR/USD there is still room for a test of 1.1400

EUR/USD is up for the second session in a row on Tuesday, although shrinking open interest and volume have removed some tailwinds from the advance. That said, further consolidation is likely in the near term as well as a potential visit to recent tops above 1.1400 the figure, where the pair is expected to fail.