EUR futures: rallies appear limited

According to CME Group’s advanced data for EUR futures markets, investors scaled back their open interest postitions by more than 6.1K contracts on Monday vs. Friday’s final 577,699 contracts. In the same line, volume extended the drop, this time by nearly 105K contracts.

EUR/USD resistance seen at 1.2350

EUR/USD continues its weekly recovery further north of the 1.2300 handle, although declining volume and open interest could remove some tailwinds to the advance ahead of the 1.2350 region, where sits the 10-day sma.