We are analyzing the activity of HFT algorithms this morning and find that the AUDUSD currency pair may provide attractive setups to short the market.
AUDUSD earlier this morning reached the light HFT selling pressure zone that is located at 0.7837 and above, where the bullish attempt was reversed. The hourly chart shows a tall bearish candle has formed on the reversal and the FxTR Master MACD indicator has turned bearish (red).
The light HFT buying pressure zone is located for this session at 0.7726 and below, and may be used as a target area for potential short trades.
Don't Miss: Stay On Top Of The Game By Reading Our Weekly Forex Forecast Of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)