AUDNZD at HFT buying zone!
|Analysis of the trading activity of HFT algorithms in the Fx market this morning is showing that bullish trading opportunities could be provided today on the AUDNZD cross currency pair. Namely, AUDNZD has already reached the light HFT buying pressure zone that is noted today noted at 1.0827 and below.
In addition, the 1.0820 support area is also sitting in the light HFT buying pressure zone. This technical area represents multiple previous lows so and AUDNZD is testing this support at the moment.
Whether the support will hold or not remains to be seen, but the current price levels provide good opportunities to look for bullish signals and to initiate long positions. The bearish channel that is drawn on the chart will also help to assess the technical situation on the pair. The Master MACD and the FxTR CCI indicators are still showing the trend as bearish, so there are no bullish signals given yet other than the fact that AUDNZD is at an important technical price area.
The light HFT selling pressure zone that is noted at 1.0884 and above will be a good area to place profit targets on buy positions.
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