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We are analyzing the activity of HFT algorithms today and note that the USDCAD pair is reacting at the light HFT buying pressure zone that is located at 1.259 and below.
The price briefly reached this HFT buy zone earlier this morning and quickly bounced off it. USDCAD is now trading off the lows and looks poised for further gains in today's session.
Particularly a move above the 1.2650 level could indicate that a further advance higher is more likely.
The light HFT selling pressure zone is located today at 1.2707 and above.
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