EUR futures: downside picking up pace

CME Group’s preliminary data for EUR futures markets saw open interest declining by just 272 contracts on Monday from Friday’s final 448,936 contracts. On the other hand, volume rose sharply by more than 72.4K contracts.

EUR/USD re-focused on 1.1660

EUR/USD is extending its decline after being rejected from last week’s tops in the 1.1880 area. Declining prices in tandem with falling volume is a bearish sign, while the recent activity in open interest remains marginal.

The continuation of the selling bias around the shared currency prompted investors to start re-shifting their focus on the key 1.1660 area (August’s low).