EUR Futures: scope for a deeper pullback

Open interest in EUR futures markets rose by nearly 2K contracts on Monday, while volume also went up for the second session in a row, this time by around 65.1K contracts according to preliminary figures from CME Group.

EUR/USD now looks to the 100-day SMA at 1.1259

EUR/USD broke below the key 200-day SMA in the mid-1.1300s at the beginning of the week amidst rising open interest and volume, opening the door for the continuation of the down move to, initially, the 100-day SMA near 1.1260 in the near term.