Forex: EUR/USD absorbs 1.3025/50 supply; bullish case strengthens (Barcelona) - The Euro is charging higher along the Asian session, finally clearing sticky area of supply at 1.3025/45, after a weak twin top printed on Monday suggested buyers were still dominant and resilient to abandon the push higher.

At the moment, EUR/USD has entered area above 1.3050, printing its highest since March 15 at 1.3065.

On the latest upside resolution, some intraday pattern identified are the price respecting closes above the 20-day MA on the hourly chart, suggesting some strong commitment by buyers.

If we throw into the mix the fact that supply at 1.3025/45 has been used up and next significant one is not spotted until 1.3140/60 as per the rally-base-drop from Feb 28, it seems as though there still might be some room for the Euro to appreciate.

Area of value to reinstate longs may come around 1.30 psychological level, although by looking at the chart, it is hard to identify where clear stack of large institutional orders are until 1.2900-15/30; on this latter area, judging by the post NFP reaction, looks like a significant imbalance between buying and selling interest remains.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.