• Off 0.1% after closing up 0.55% on safe-haven flows, with the USD down 0.65%

• Power outage hit Spain, Portugal after a Franco-Spanish connection failure

• Germany works towards a viable Conservatives, Social Democrats government

• A working German coalition will be good news for Europe and the Euro

• Charts - 21-day Bollinger bands climb, 5, 10 & 21-day moving averages coil

• Neutral daily momentum studies - the February/April uptrend remains stalled

• Wednesday's 1.1440 top then last week's 1.1572 high are the first resistance

• April 15th, 1.1264 base and then the 1.1221 21-DMA are initial supports

• A close below the rising 1.1221 21-day moving average would be bearish

• There are no significant strikes within 50 points of 1.1420
Andy

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