EUR/USD shot straight up after the announcement of the cutting of Dollar funding rates by the central banks. In theory, this should keep EU banks from being locked out of Dollar markets, which are important because USD is what international trading is normally done in. (We will see.) The 1.35 showed its strength as resistance again during the Wednesday session though.
EUR/JPY rose as well, and had a similar reaction - knee jerk shot up, and then a fall at the first significant resistance. This could signal that this move has limited time to thrive. In the mean time, we like selling on signs of weakness as long as we remain sub-105.
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