• Up 0.05% after closing down 0.4%, as the U.S. dollar bounced 0.35%

• Thursday's dip is a healthy correction after three days of EUR/USD gains

• PMI data disappointed the euro zone optimists, though German ifo firmed

• Global bond markets signal governments must pay more to borrow long-term

• Charts- 21-day Bolli bands contract, 5, 10 & 21-day moving averages coil

• Horizontal daily momentum studies - daily signals show no strong bias

• Tuesday's 1.1218 base then last Friday's 1.1131 low are initial supports

• This week's 1.1362 top and the May 1.1381 high are the first resistance

• 1.1275 1.502 BLN, 1.1295 573 mln, and 1.1300 1.843 BLN close May 23 strikes
Andy

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