EUR futures: consolidation lies ahead

CME Group’s flash data for EUR futures markets showed investors added nearly 4.5K contracts to their open interest positions on Friday vs. Thursday’s final 585,242 contracts. Volume, instead, decreased significantly by more than 50K contracts.

EUR/USD support emerged near 1.2200

Friday’s negative price action in EUR/USD showed decent support in the 1.2200 neighbourhood, while volume went down and open interest increased a tad amidst a steady trend. Further consolidation is thus expected, while a resumption of the down move should meet strong support in the 1.2160 region.