Daily HFT Trade Setup – NZDUSD Off the Highs After Test of HFT Sell Zone

We are analyzing Forex high frequency trading algorithms this morning and note that the NZDUSD pair could provide opportunities to go short.

For instance, NZDUSD has now reached the light HFT selling pressure zone that is located today at 0.6639 and above. The price reaction there resulted in a rejection of the bullish attempt.

NZDUSD has now bounced at intra-day local support around the 0.6620 level. A break below can lead to a further move lower today and a test of the light HFT buying pressure zone that is located at 0.6584 and below.

Don't Miss: Stay on top of the game by reading our Weekly Forex Forecast of EUR/USD, GBP/USD, USD/JPY (Fundamentals + Technicals)