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EUR/USD hits new three-year high
EUR/USD has punched through a crucial resistance level this morning, as news of a breakthrough in German coalition talks seemingly raising the chances of a continued Angela Merkel leadership.
The push through $1.2092 provides a new three-year high, and moves the pair into a region with very little resistance within close proximity. As long as the price remains above $1.2027, a bullish view remains in place, with retracements or period of consolidation looking like buying opportunities.