EUR futures: upside momentum limited?

CME Group’s preliminary figures for EUR futures markets showed open interest rose by aroundn 3.2K contracts on Wednesday vs. Tuesday’s final 508,204 contracts. Volume, instead, decreased by almost 41K contracts.

EUR/USD looks toppish around 1.2400

The recent upside in EUR/USD appears to have met tough resistance around 1.2400 the figure for the time being. The recent small uptick in open interest and shrinking volume add to the idea that some consolidation or a correction lower could emerge in the near term.