AUD/NZD At HFT Buy Zone!

FX Trading Revolution Team FX Trading Revolution

We are analyzing the activity of HFT algorithms in the Forex market this morning and have noticed that the AUDNZD currency pair may provide interesting buying opportunities later in the trading session.

AUDNZD has already reached the light HFT buying pressure zone which is today noted at 1.0441 and below. Additionally, multiple lows in the 1.0450 area from recent days are providing further buying interest at these levels.

AUDNZD has roughly formed a descending channel on the chart. The prior lows from recent days form the lower trendline of this channel which provides support right in the light HFT buying pressure zone. Forex traders will, therefore, be on the lookout for buying opportunities around the current levels.

The Master MACD indicator is still showing the trend to be bullish, but it will quickly change if the price action rebounds at current levels. Traders will be looking at the resistance trendline of the channel to be reached in case of the bullish scenario. The light HFT selling pressure zone is also near and today is noted at 1.0484 and above.

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FX Trading Revolution

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