EUR Futures: squeeze higher in the pipeline?

Open interest in EUR futures markets shrunk by around 3.5K contracts on Friday, while volume decreased by more than 24k contracts, according to flash data from CME Group.

EUR/USD well supported near 1.1200

Friday’s sell off in EUR/USD was in tandem with declining open interest and volume, allowing for a potential U-turn in the short-term horizon. In the meantime, the 1.1200 neighbourhood continues to hold the downside ahead of the 1.1180 area.