EUR futures: looking for a base?

According to CME Group’s preliminary data for EUR futures markets, open interest rose by just 647 contracts on Monday vs. Friday’s final 436,829 contracts. Volume, instead, dropped by nearly 17K contracts, recording the fourth consecutive decrease.

EUR/USD solid support appears at 1.1660

EUR/USD keeps the choppy trade so far this week. However, the declining trend in volume coupled with irrelevant activity in open interest points to a continuation of the correction lower, at least in the very near term and always with USD-dynamics as the main catalyst of the price action. Further out, EUR should stay under pressure, as the ECB will publish its minutes on Thursday.