• Trades up 0.15%, after closing up 0.1% with the U.S. dollar off 0.1%

• US readies Russia sanctions over Ukraine, unclear if Trump will sign

• Sharp rise in EZ core inflation will not prevent further ECB rate cuts

• Charts- 21-day Bollinger bands contract, 5, 10 & 21-day moving averages coil

• Daily momentum studies ease - the February/April uptrend remains stalled

• The 1.1294 21-DMA and April 15th 1.1264 base are initial supports

• A close below the 1.1264 recent range base would be a negative signal

• 1.1440 range top, then the 1.1572 2025 high are the first resistance

• 1.1285 1.898BLN, 1.1300 1.884BLN, and 1.1350 870mln close May 5th strikes
Andy

(Andrew Spencer is a Reuters market analyst. The views expressed are his own.)