• Steady early after closing up 0.9% with the U.S. dollar off 0.76%

• The Euro recovered most of Monday's post-U.S.-China tariff cut deal

• Ukraine's Zelenskiy insists on face-to-face talks with Putin in Istanbul

• Merz: EU to tighten sanctions on Russia if no progress on Ukraine this week

• Charts- 21-day Bollinger bands expand, 5, 10 & 21-day moving averages slip

• Daily momentum studies conflict - a bearish setup remains despite the bounce

• A lose above the 1.1323 21-day moving average would end the downside bias

• Monday's 1.1065 low then 1.1053 0.618% of the Mar/Apr rise are first support

• This week's 1.1242 high, then last week's 1.1380 top are initial resistance

• 1.1175 1.494 BLN and 1.1200 952 mln close strikes for May 14th
Andy

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