EUR futures: scope for extra gains

Open interest in EUR futures markets reverted the previous daily drop and increased by around 1.7K contracts on Wednesday vs. Tuesday’s final 536,724 contracts, according to preliminary data from CME Group. In the same line, volume rose by the third session in a row, this time by around 55.2K contracts.

EUR/USD faces resistance at 1.1370

The rally in EUR/USD seems to be taking a breather so far today, although there is still room for extra upside in light of rising open interest and volume. That said, the next key hurdle emerges in the 1.1370 region, where lies the 55-day SMA.