Today's movements on the AUDUSD currency pair show that the price has reached the light HFT selling pressure noted at 0.6841 and above.
The analysis of HFT algorithms indicates that sellers are stepping in the market in this area. The bullish attempt already got strongly rejected, though AUDUSD remains in an uptrend and bouncing off the rising trendline.
Trend indicators on the hourly chart are mixed. The advanced CCI is bullish while the Master MACD has turned neutral. Our highly accurate overbought/oversold indicator is showing overbought levels, indicating that sell signals have an increased probability of being profitable.
A bearish scenario would be set in motion by a bearish breakout of the uptrend. Traders will be looking for potential target zones toward the 0.68 round number and the light HFT buying pressure zone - noted today at 0.6777 and below.
AUD/USD Current Trading Positions
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