EUR Futures: further downside on the cards

According to advanced data for EUR futures markets from CME Group, investors added 720 contracts to their open interest positions on Wednesday, recording the third build in a row. On the other hand, volume extended the choppy activity and shrunk by around 58.7K contracts.

EUR/USD targets the 55-day SMA near 1.1040

EUR/USD is navigating the area of recent lows in the 1.1070/60 band amidst declining open interest and volume. That said, extra losses now target the key 55-day SMA in the 1.1040 region in the near term.