• Steady after closing down 0.3% with the U.S. dollar 0.3% higher

• Yield spreads tightened a notch, 10yr bund +3bp 2.534%, 10yr UST +2bp 4.434%

• Fed rates higher for longer contrasts with ECB's June cut rhetoric

• PMIs across Europe and the U.S. today should contain interest in Asia

• Charts - momentum studies crest, 10, and 21-day moving averages climb

• 21-day Bollinger bands rise - uptrend stalled, signals net positive

• 1.0835 10-DMA break flags caution to bulls, 1.0782 21-DMA break bearish

• 1.0782 21-DMA and the 1.0847 New York high are initial support/resistance

• There are no significant close strikes for May 23rd

For more click on FXBUZ