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We are analyzing the activity of high frequency trading algorithms in the Fx market today and note that the USDCAD pair has risen to reach the light HFT selling pressure zone that is located at 1.2529 and above.
These price levels are likely to attract increased selling interest, and particularly also because USDCAD is now trading at overbought levels on the hourly timeframe (see FxTR overbought/oversold indicator).
To the downside, Fx traders will keep an eye on the light HFT buying pressure zone that is located today at 1.2413 and below.
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