• -0.05% after slipping 0.15%, with the safe haven U.S. dollar up 0.15%

• Widening yield spreads capped, 10yr bund +2bp 2.492%, 10yr UST +6bp 3.862%

• ECB's Makhlouf says long way to go to reach 2% target; credibility 'at risk'

• ECBWATCH prices yields to peak at 3.568% in Oct 2023, current target 2.5%

• Charts; momentum studies edge lower, 21 day Bollinger bands expand

• 5, 10 & 21 day moving averages head south - a negative trending setup

• Well tested falling 1.0609 lower 21 day Bollinger band supports

• Bias is for a test of 1.0482 2023 low while closes below 1.0799 21 DMA

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