EUR/USD Finally Broke below 1.0462

After months of expectation and speculation yesterday FED finally announced an interest rate hike from 0.50% to 0.75%. The news were unsurprising but even so they still caused massive volatility on the market, which, of couse, affected all USD-related currency pairs. EUR/USD was no different  The pair has been moving to the downside since the news came out yesterday and so far it has fallen with over 200 pips. More importantly, after almost two years of sideways consolidation forming a very wide range which can be observed on the weekly and monthly time-frames, the pair finally broke below the previous low at 1.0462 and reached a new historical low at 1.0405. So far there is no indication for a reversal or even a major retracement - for the time being the pair will likely continue falling and the possibility to reach parity is ever increasing.