AUD/NZD trades near HFT buying zone
|The analysis of activity on high frequency trading algorithms in the Fx market this morning shows that the AUDNZD pair is trading at levels near the light HFT buying pressure zone that is noted at 1.0852 and below.
The HFT buy zone is identified as a potential reversal area by high frequency trading algorithms, meaning that if AUDNZD reaches it, it may bounce or completely reverse there.
However, having a confirmed reversal signal by other indicators and factors is preferable before taking a trade to ensure higher probabilities for profit. In this sense, the prior lows around the 1.0850 level in AUDNZD should attract additional buys on intraday technical support.
To the upside, the light HFT selling pressure zone is noted at 1.0903 and above.
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