USD/CHF Moving Into HFT Selling Zone!
|Analysis of interbank HFT algorithmic trading shows that the USD/CHF currency pair is now passing into the light HFT selling pressure zone that is noted at 0.9961 and above. The price has already reached this area, and the rise in selling interest is evident by the quick rejection of the initial bullish attempt here.
USDCHF is also trading inside a rising channel, which resistance trendline is currently found at 0.9975. If the bulls make another attempt to the upside, the price may reach this trendline as well, where it would meet additional selling pressures.
The lower trendline of the channel at 0.9935 and the light HFT buying pressure zone, noted at 0.9906 and below, will be zones of interest for placing targets on bearish positions.
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