NZD/USD Declines Off HFT Sell Zone!
|Analysis of the trading activity of HFT algorithms in the Fx market this morning shows that the NZDUSD currency pair has already reached the light HFT selling pressure zone that is noted at 0.6889 and above.
The price action reacted here and the bullish attempt was rejected at the light HFT selling pressure zone. NZDUSD declined from it and trend indicators have started to turn bearish now.
The Master MACD indicator and the Fx Trading Revolution CCI indicator are both "red", hence it seems that there is further downside potential on NZDUSD today.
Assuming that selling pressures continue today, NZDUSD is likely to reach the 0.6850 round number level which is also minor support. A break below it would then likely see NZDUSD falling to the light HFT buying pressure zone which is today noted at 0.6824 and below.
NZDUSD Current Trading Positions
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