The EUR/USD broke through the top side of the nice wedge at 1.3500 that has formed on the hourly chart and should now extend toward the the mid March high at 1.3730/40 which also happens to be in the neighbourhood of the 200 DMA. A move through this level opens the way for a move back to 1.4350. The daily technical studies are all perfectly placed to support a move such as this and i believe this will remain the case until we break back below the 1.3400 level in the EUR/USD.
Those who bought the break above 1.3500 in the EUR/USD this morning should look to square up ahead of 1.3730 and look to buy on the break above 1.3750. Expect to see some resistance at the 1.3880 level but by then we should be back above the 200 DMA which will get some model players excited and help my cause for a move to 1.4350.
