• EUR/USD's negative alignment of the tenkan and kijun lines is bearish

• The drop earlier in December failed to break under the 2024 1.0332 (EBS) low

• 2024 1.0332 low was posted back in November, bears need a break below here

• Near-term recovery attempts will likely be limited by the kijun line

• A break and close above the kijun line, currently at 1.0487, would defer

• The kijun line is the midpoint of the last 26 trading sessions

Daily Chart:

(Martin Miller is a Reuters market analyst. The views expressed are his own)