• Lack follow through from Fri. & tighter DE-US spreads see short covers lift
  
  
• European QE trades continue to unwind across asset markets
  
  
• 100 & 10-Day moving averages aid the bounce
  
  
• Break of latter sees decent squeeze, sub-1.1115 eases short-term bull pressure
  
  
• Offers into 1.12005/10 more 1.1225/30  followed by Friday's high
  
  
• Reduction/reversal of foreign inflow to Europe lessens hedge sales of EUR