EUR futures: rallies appear limited

In light of advanced figures for EUR futures markets from CME Group, investors trimmed their open interest positions by just around 200 contracts on Friday vs. Thursday’s final 516,528 contracts. Volume followed suit, dropping significantly by more than 115K contracts.

EUR/USD faces strong resistance at 1.2020

The moderate rebound in EUR/USD should face a tough barrier above the psychological 1.2000 the figure, where sits the 200-day sma. Friday’s up move has been on the back of declining open interest and volume, indicative of some loss of momentum of the up move.