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The activity of HFT algorithms in the Fx market today shows that the NZDUSD pair has now reached and is trading inside of the light HFT selling pressure zone that is noted today at 0.6344 and above.
NZDUSD is rising steadily so far in today's session, even after entering the HFT area. It has also pushed above the 0.6350 level, which perhaps suggests NZDUSD can push further higher today.
However, bearish pressures are more likely to increase here in the HFT sell zone, and a potential bearish signal on lower timeframes could give the sign that a top has been formed. The 0.6380 - 0.64 area is also technical resistance. A price reaction is likely if NZDUSD gets up there.
To the downside, the light HFT buying pressure zone is noted at 0.6252 and below.
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