NZD/USD Moving Into HFT Selling Zone!
|Our analysis of HFT algorithms in the currency market this morning shows that the NZDUSD pair is entering the light HFT selling pressure zone that is noted for today's day-trading session at 0.6564 and above.
Sellers have already started to jump in the market in this area, and the bullish momentum has weakened. However, the trend remains bullish for now, and no clear sell signals appear.
A channel formation on the hourly chart has also been shaped, which puts the resistance trendline slightly higher from current levels, around 0.6575.
In any case, the appearance of convincing sell signals here inside the light HFT selling pressure zone would likely offer profitable trading opportunities.
To the downside, 0.6540 is where the support trendline stands, ahead of the light HFT buying pressure zone, which is noted at 0.6521 and below.
NZD/USD Current Trading Positions
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