• Steady in a tight and quiet 1.0398-1.0408 range into the Christmas holidays

• There is no significant EZ data or central bank events, so likely low-key

• France has a fresh government with budget battle looming- uncertainty reigns

• Charts - neutral daily momentum studies, 21-day Bollinger bands expand

• 5, 10 & 21-DMAs edge lower, weekly moving averages fall - a net bearish bias

• Last week's 1.0535 high, then the December 1.0630 top are initial resistance

• November 1.0331 2024 low, then 1.0195 0.618% 2022/23 rise are first supports

• 1.0400 590mln are the only close strikes for Dec 24th

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