High-frequency trading algorithms' activity this morning shows that the AUDUSD currency pair is gradually moving closer to the light HFT selling pressure zone that is located today at 0.7747 and above.
Fx traders will look for reversal patterns in this area and potential opportunities to short the market. The 0.7750 level is also moderate technical resistance, which may play a part in attracting additional sellers in this area.
Potential targets to the downside in a bearish scenario are the 0.70 round number level and the light HFT buying pressure zone that is noted today at 0.7653 and below.
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