EUR futures: scope for a deeper pullback

Open interest in EUR futures markets rose by more than 3K contracts on Monday, while volume increased by around 13.5K contracts, both readings reversing the previous drop according to CME Group.

EUR/USD looks to 1.12 and below

Monday’s negative price action in EUR/USD in combination with increasing open interest and volume allows for a potential deeper retracement in the near term with immediate target at the 1.1200 key support and probably further south.