• Off 0.5% at the base of a 1.3545-1.3632 range on the Israel/Iran conflict

• Risk off - Brent oil up 8.8%, E-mini S&P -1.55%, FTSE INDEX June -0.35%

• As more Middle East details emerge, or if Iran responds, expect volatility

• UK hiring slows again in May, but the downturn might be easing - recruiters

• Charts - 5, 10, & 21-day moving averages climb with neutral momentum studies

• 21-day Bollinger bands contract - the daily signals show a net positive bias

• Today's 1.3632 high then the 1.3749 2022 top are the next major resistances

• 1.3492 21 DMA and then 1.3417 May 29th base are the initial supports

• A close below the 1.3492 21 DMA would end the topside bias
Andy

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