Euro smashes through support
EURUSD has smashed through wedge support, ending over a year and a half of consolidation. There were a lot of calls for parity last year, but the pair bottomed out at 1.0496 and proceeded to rally over 1200 pips. This break below the wedge bottom is a massive, long awaited development and bears will be seeking to drive the Euro lower over the coming days. Initial target is the 1.0975 - 1.0912 support zone, with a break below there targeting 1.0775 - 1.07. Bears will be aggressively selling into any rallies and pair remains bearish absent a daily close above 1.1155 former support.
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