AUDUSD has reached HFT buy zone!
|Analysis of the trading activity of HFT algorithms in the Fx market this morning shows that the AUDUSD currency pair has already hit the light HFT buying pressure zone that is noted at 0.7062 and below.
The rebound here was strong so, AUDUSD has now also reached the 0.7090 resistance level, as shown on the chart below. The Master MACD indicator is showing the trend as bullish, but the slower FxTR RSI indicator is still showing the longer-term trend as bearish.
So what happens from here, will depend on how AUDUSD interacts with the 0.7090 resistance level. A bullish breakout above it will probably result in AUDUSD also reaching the light HFT selling pressure zone that is noted at 0.7111 and above.
Bullish opportunities should be provided in this case and traders can look to enter buy trades on a breakout above the intra-day 0.7090 resistance level.
AUDUSD Current Trading Positions
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