• Steady after closing down 0.35% amid broad based USD strength

• Upbeat EZ data was followed by strong U.S. PMI - higher yields and USD

• 10yr bund closed up 10bp to 2.553%, 10yr UST +13bp 3.954% a 3 month high

• Tonight's German Ifo business climate data may have more impact than ususal

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

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

• Well tested falling 1.0691 10 day moving average is initial resistance

• Longer-term target is a test of the 1.0482 2023 base

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