• Trades up 0.6% - early volatility, then steady demand once fully Asia opened

• EUR/USD trades at the top of a 1.0462-1.0528 range with the USD off 0.4%

• German election victor Merz plans to pivot from US as coalition talks loom

• Coalition talks set to be complicated - markets hope for an early resolution

• Charts - positive 5, 10 & 21-day moving averages, 21-day Bolli bands expand

• Daily momentum studies climb - daily charts show a modest positive bias

• Wednesday's 1.0401 low, then the Feb 13 1.0374 base are first supports

• The 1.0534 2025 top, then the 1.0630 December 2024 high are first resistance

• 1.0500 1.438 BLN, 1.0525 1.142 BLN and 1.0550 740mln close Feb 24th strikes
Andy

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