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The analysis of high-frequency trading algorithms this morning shows that the AUDUSD pair may offer an attractive continuation play of the recent downtrend.
AUDUSD has been consolidating for the past couple of days, with a larger retracement higher occurring today. Namely, AUDUSD has also reached the light HFT selling pressure zone this morning, which is standing for today's session at 0.7607 and above.
Bears will probably look for potential bearish setups in this area to join the trend preceding trend, which was down.
The light HFT buying pressure zone that is found at 0.7556 and below.
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