EURUSD ran higher in New York Wednesday, but held ahead of 1.3838-44 resistance, printing a high of 1.3834 before falling away half a figure. As long as the pair stays below 1.3850, hold onto any shorts established above 1.3800, with a stop above 1.3850, looking for a move lower to validate or break supports, the first of which is at 1.3695. Look to trim shorts should the pair approach 1.3695, and trail the stop lower if that level breaks.
UBS Investment Bank