• +0.1% in a tight range in Asia, as markets digest recent volatility

• China issued it's first rare earth magnet export permits since April

• Volkswagen suppliers on the list - critical materials will continue to flow

• Good news for VW and potentially for other Eurozone manufacturers

• 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 close above the 1.1324 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.)