EUR Futures: Door open for extra downside

Open interest in EUR futures markets rose by almost 2K contracts on Thursday following two consecutive daily pullbacks, according to advanced readings from CME Group. Volume, in the same line, increased by nearly 14.7K contracts, extending the choppy activity.

EUR/USD now looks to 1.0777

Thursday’s negative price action in EUR/USD was on the back of rising both open interest and volume, hinting at the likeliness that further weakness lie ahead. That said, the February’s low at 1.0777 now emerges as the next key support.