EUR futures: room for a squeeze higher

In light of flash figures for EUR futures markets from CME Group, investors trimmed their open interest positions by almost 1.9K on Wednesday from Tuesday’s final 528,828 contracts. Volume, instead, increased by around 25.8K contracts.

EUR/USD resistance lies around 1.1510

EUR/USD tested fresh multi-month lows around 1.1300 the figure on Wednesday, although it managed to regain some ground at the end of the day amidst diminishing open interest. That, plus the oversold condition in spot, allows for a potential bullish attempt which should meet the initial hurdle at the 1.1500 neighbourhood.