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The activity of high frequency trading algorithms shows that the NZDUSD currency pair could offer attractive opportunities for long positions in the day-trading session ahead.
Namely, NZDUSD earlier has reached the light HFT buying pressure zone, which is located today at 0.6781 and below. The market has already tried to bounce here, and after several bullish candles at the HFT buy zone, the overnight sell-off stabilized.
Still, NZDUSD traders may want further bullish confirmation before they jump on their long trades. Other technical indicators, such as the FxTR Master MACD (shown below) and a technical break above the nearest resistance of 0.6785, could provide this confirmation.
Under such a scenario, the focus for profit targets will turn to the light HFT selling pressure zone, which is noted today at 0.6812 and above.
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