EUR futures: up trend stays underpinned

CME Group’s preliminary data for EUR futures markets showed open interest increasing by just above 1K contracts vs. Monday’s final 483,857 contracts. Volume followed suit, up by more than 26.1K contracts.

EUR/USD momentum stays solid

The broader picture in EUR/USD stays constructive for the time being, underpinned by the 5-month support line around 1.1780. However, another surpass of the psychological 1.2000 handle appears to need a somewhat stronger catalyst for the time being.

The recent drop in the pair and the subsequent rebound has been accompanied by rising volume and open interest, hinting at the idea that investors keep buying the occasional dips for the time being.