EUR futures: upside looks unconvincing

In light of preliminary figures for EUR futures markets from CME Group, investors added nearly 800 contracts on Monday to their open interest positions, while volume reversed by around 86.4K contracts after two consecutive daily builds.

EUR/USD could target tops at 1.1270/80

EUR/USD is prolonging the up move amidst persistent USD-weakness, although the erratic activity in open interest and volume opens the door for some consolidation in the near term. Against this backdrop, a test of last week’s tops in the 1.1270/80 band cannot be ruled out.