• -0.35% as risk appetite sours, trades near base of busy 0.6848-0.6880 range

• Raised Federal Reserve hike fears undermines risk in Asia - =USD +0.25%

• E-mini S&P -0.35%, 10yr UST +3bp to 3.895%, Nikkei -0.55% and AsiaxJP -0.8%

• Charts; momentum studies, 5, 10 & 21 day moving averages head lower

• 21 day Bollinger bands expand, which is a bearish trending setup

• Negative signals target a test of 0.6780, 38.2% of the 2022-2023 rise

• Close above well tested 0.6992 21 DMA - would end the downside bias

• 0.6840 NY low and this morning's 0.6880 high initial support and resistance

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