EUR/USD’s failed to push through trend resistance in the upper 1.25 area last week which condemns the market to a resumption of the broader bear trend, in all likelihood, notes TD. "Rejection at the top of the range spells a push back to the lower bound—in this case, right around 1.21. Key short-term support—the early November low—is all that stands in the way of a renewed decline from here," TD argues. "The cluster of resistance points in the upper 1.25 area puts this area as the bare minimum the EUR needs to attain in order to stabilize from a chart perspective. Trend momentum on the daily studies is weak—but that ... (full story)