• Steady, after closing off 0.1% with the USD up 0.25% with higher UST yields

• Yield spreads rose, 10yr bund +2bp 2.781%, 10yr UST +8bp to 4.338% on TWEB

• Merz and the SPD try to narrow their differences in German coalition talks

• A working German coalition compromise is key for Europe and the Euro

• Charts- 5, 10 & 21-DMAs conflict, as 21-day Bollinger bands contract

• Daily momentum studies crest - uptrend stalled leaving a neutral setup

• 1.0955 March high then 1.0980 0.786% Sep/Feb fall is first resistance

• The 1.0747 21 DMA, then the 1.0726 200 DMA is pivotal support

• 1.0750 777mln and 1.0850 1.429 BLN are the close March 25th strikes
Andy

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