EUR futures: rallies remain tepid

In light of CME Group’s preliminary data for EUR futures markets, open interest rose by more than 1.2K contracts on Tuesday vs. Monday’s 439,425 contracts. On the opposite direction, volume decreased by nearly 32.2K contracts.

EUR/USD still capped by 1.1660

Tuesday’s doji-like candle hinted at some indecision in EUR/USD, while the move has been in tandem with a small up tick in open interest coupled with an important decrease in volume.

Ahead of the FOMC meeting later today, the ‘neckline’ around 1.1660/70 emerges as tough barrier for occasional bullish attempts, coincident at the same time with August’s low and early October low.