EURUSD UPTREND STRONGLY BULLISH ABOVE 1.2093

The euro currency has moved to a three-year high against the U.S dollar during the European trading session, with price-action so far climbing to 1.2135. The EURUSD broke above the key 1.2093 level, after German lawmakers outlined the basis for a coalition deal between Angela Merkel’s CDU party, and the center-left Social Democrat party. Heading into the U.S session, buying momentum continues to accelerate in the EURUSD pair, with the next major long-term technical resistance barrier for the EURUSD located at the 1.2200 level.

• The EURUSD uptrend remains firmly intact while price-action trades above the 1.2093 level, upside targets for are found at 1.2150 and 1.2200.

• Should price-action on the EURUSD pair move below the key 1.2093 level, sellers may start to target the 1.2080 and 1.2050 support zone.