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The activity of Fx HFT trading algorithms shows that the NZDUSD pair is moving higher today after it earlier reversed at the light HFT buying pressure zone, which is located at 0.6972 and below.
The pair is now challenging the recent downtrend channel here on the hourly chart, with the price backing off a little of the falling trendline now. An upside breakout could unlock bigger bullish potential today and for the coming days as well.
The light HFT selling pressure zone is standing for today's session at 0.7018 and above. It would be the next area where NZDUSD is likely to stop in case of a bullish breakout of the channel.
On the other hand, if the channel's resistance holds, then NZDUSD may revisit today's lows around the light HFT buy zone near 0.6972.
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