EUR Futures: Recovery looks undermined

Investors scaled back their open interest positions by yet another session on Wednesday, this time by nearly 9.5K contracts, according to preliminary readings from CME Group. In the same line, volume shrunk for the fourth consecutive session, now by around 25.3K contracts.

EUR/USD still targets the 1.0990 region

EUR/USD has regained the 1.0900 mark in recent hours. The continuation of the move up, however, was in tandem with declining open interest and volume, which should remove some tailwinds from the recovery, which keeps targeting the 1.0990 region initially.