AUDUSD at HFT buy zone!
|We are analyzing the activity of HFT algorithms in the Forex market today and have noticed that bullish opportunities could exist on the AUDUSD currency pair.
AUDUSD has almost reached the light HFT buying pressure zone that is today noted at 0.6732 and below. The pair has risen strongly over the past several days and this latest leg down comes as a retracement to the previous bullish move.
Now, the question is will AUDUSD rebound here? The price action has already started to show some signs of reaction near the light HFT buying pressure zone, but a clear bullish signal has still not been formed. Trend indicators are also not giving any signals with the FxTR CCI indicator still showing the trend as bearish and the Master MACD being neutral.
If AUDUSD rebounds here, its next destination is likely to be toward the light HFT selling pressure zone which is noted at 0.7288 and above.
AUDUSD Current Trading Positions
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