HFT algorithms selling AUD/NZD at HFT sell zone!
|We are analyzing the activity of HFT algorithms in the Fx market and note that the AUDNZD pair is seeing selling pressures, which has caused the rally to stall.
Namely, AUDNZD reached the light HFT selling pressure zone - noted at 1.0799 and above - and the bullish attempt was rejected here. The hourly Master MACD indicator turned neutral from negative, confirming that the trend is taking a pause.
While the trend is still technically up, the chances for a reversal have increased here. Traders will be looking for a bearish breakout below the 1.0780 support zone as a confirmation for the change in trend.
To the downside, the 1.0750 support zone is the first technical area that AUDNZD may reach. The light HFT buying pressure zone - noted at 1.0731 and below - would also be a potential target.
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