EUR/USD rangebound ahead of ECB event

          Yesterday’s strong advance and close beyond the 1.1800 handle has been accompanied by a marginal drop in open interest while volume rebounded sharply. The recent activity in open interest coupled with choppy price action in EUR/USD leaves the door open for further rangebound ahead of the ECB gathering. However, the increase in volume might add to the view that traders could be positioned for a bull run.