• Steady after closing down 0.45% in response to a hawkish 25pt ECB hike

• German Economy Minister Robert Habeck said inflation has passed it's peak

• Yield spreads widened, 10yr bund -7bp to 2.186%, 10yr UST -3bp 3.376%

• Charts; 21-day Bollinger bands climb, momentum studies conflict

• 5, 10 & 21-day moving averages track north - positive setup remains

• Close below tested 1.0985 rising 21-DMA would end topside bias

• Targets 1.1096 April and 2023 top, then 1.1185 April 2022 high

• 1.1000 1.698 BLN and 1.1050/55 1.594 BLN are May 5th close strikes

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