TD Securities - "In the wake of the Fed’s surprise decision, EUR/USD finds itself in a new, much higher, trading range—about two big figures above where it was 24 hours ago. The pervasive ‘risk-positive’ reaction to the Fed continues to benefit equities, commodities, and most currencies against the USD, and considering the significant reset that the Fed action (or inaction) represents, these moves are not likely to be temporary. For EUR/USD that means this new trading range is likely here to stay for the time being and the bigger risk now appears to be for an extension higher. In the near term, 1.3500 is the nearest support to watch, while 1.3600/50 are the key topside levels. All that said, the German elections this weekend could still make for a bumpy ride for the EUR in the coming days."