• Steady after closing 0.75% lower, giving back Monday's short-lived gains

• Worse than expected EU PMIs at almost a 3-year low, fuelled recession fears

• EU data contrasted with the far more upbeat U.S. PMIs and new orders

• Data suggests in the short-term selling EUR/USD on strength provides value

• Charts - mixed momentum studies, 5, 10 & 21-day moving averages conflict

• 21-day Bollinger bands expand - Tuesday's positive setup has turned neutral

• Europe's 1.0695 top and 1.0496 mid-Oct low initial major support resistance

• 1.0600 736 mln are the only close strikes for October 25th

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