• Off 0.2% with the USD up 0.15% with most of Asia and Europe off for May Day

• U.S./Ukraine sign an agreement on the Reconstruction Fund, US mineral access

• The agreement may add to pressure on Russia to end the war in Ukraine

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

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

• The 1.1267 21-DMA then the April 15th, 1.1264 base are initial supports

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

• 1.1440 recent range top, then last week's 1.1572 high, are first resistance

• 1.1270 1.792 BLN and 1.1330 1.158 BLN are the close strikes for May 1st
Andy

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