HFT algorithms in the Fx market today indicate the AUDUSD pair may be ready to resume the bearish trend with another down leg. Namely, AUDUSD has been retracing higher and even came close to the light HFT sell zone before it was rejected back lower.
The retracement may have already ended here, but if it had not, then AUDUSD may continue higher and reach the more important price zone. This is located slightly higher, inside the light HFT selling pressure zone that is noted today at 0.6928 and above. Note that the previous swing lows and former support are at this same zone around 0.6930-0.6940. If AUDUSD gets to this area today, bears will likely be looking to enter the market.
The light HFT buying pressure zone is noted at 0.6804 and below.
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