EURUSD has officially resumed the most recent uptrend, but is it sustainable?

This morning saw gaps across the board for all major currencies as the USD crashed. Larry Summers, one of the candidates initially in the running to replace Fed Chairman Ben Bernanke's post, has officially pulled out of the race! Here's a copy of his letter to the president : http://online.wsj.com/public/resources/documents/summers.pdf

The gap up in the EURUSD officially resumed its uptrend after Friday night saw a heated tussle between the  bulls and bears, but is this uptrend sustainable? We know that of late, the USD has been one of the major influences on the currency market's movements throughout most pairs. However, let's see what will happen after 4pm local time.