CME Group’s preliminary figures for EUR futures markets noted open interest retreated for the fourth consecutive session on Tuesday, this time by around 1.2K contracts. On the other hand, volume partially reversed the previous drop and increased by around 47.8K contracts.

EUR/USD still targets the 1.0990 region

The downtick in EUR/USD on Tuesday was on the back of declining open interest, hinting at the likeliness that a deeper pullback looks unlikely in the near term. That said, there is still scope for the pair to test the key barrier in the 1.0990 area.