The AUDUSD pair reached the light HFT selling pressure zone which is noted at 0.6911 and above. The bullish attempt was quickly reversed as soon as the price touched the light HFT selling pressure zone. This is often a good bearish setup as the speed of the rejection indicates that strong selling forces are entering the market at these levels.
Trend indicators have still not confirmed a reversal though; once that happens too the probabilities will increase further that AUDUSD has formed a top here.
To the downside, the light HFT buying pressure zone which is noted at 0.6876 and below will be the targeted area for short trades.
AUDUSD Current Trading Positions
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