AUD/USD tests HFT buying and selling zones!

FX Trading Revolution Team FX Trading Revolution

We are analyzing HFT Algorithms behavior on the AUDUSD currency pair this Tuesday morning session and note that the pair may continue to descend lower from current levels.

During the Asian overnight session, AUDUSD tested the light HFT buying pressure zone - noted at 0.6122 and below - where the bearish move was rejected.

Then, AUDUSD moved higher to reach the light HFT selling pressure zone as well, which is noted at 0.6194 and above. The bullish attempt here was also rejected in the early European session, and the pair is now moving down again

A second attempt on the light HFT buying pressure zone looks likely, and possibly the price may form another bottom in this area today.

AUD/USD Current Trading Positions

Sell 38%

Buy 62%

Avg Sell Price 0.6079

Avg Buy Price 0.6028

Liquidity Distribution

FX Trading Revolution - Your Revolutionary Forex Source

Author

FX Trading Revolution Team

FX Trading Revolution

The FX Trading Revolution website is a free independent FOREX source, and was founded to provide true and unbiased information about FOREX trading.

EUR/USD turns negative near 1.1850

EUR/USD has given up its earlier intraday gains on Thursday and is now struggling to hold above the 1.1850 area. The US Dollar is finding renewed support from a pick-up in risk aversion, while fresh market chatter suggesting Russia could be considering a return to the US Dollar system is also lending the Greenback an extra boost.

GBP/USD change course, nears 1.3600

GBP/USD gives away its daily gains and recedes toward the low-1.3600s on Thursday. Indeed, Cable now struggles to regain some upside traction on the back of the sudden bout of buying interest in the Greenback. In the meantime, investors continue to assess a string of underwhelming UK data releases released earlier in the day.