• -0.05% early after closing up just 0.05% in a choppy session

• Risk off on Wall Street after soft data, as U.S. recession fears grow

• Hopes rise Germany could avoid recession in 2023, as inflation eases

• Charts; momentum studies crest, 21 day Bollinger bands edge higher

• 10 & 21 day moving averages continue to rise - net positive setup

• Targets significant resistance at 1.0938 50% of the 2021-2022 fall

• Close below 1.0694 rising 10 day moving average would end topside bias

• Wednesday's 1.0766 low and NY 1.0887 high initial support, resistance

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