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The analysis of high frequency trading algorithms in the Fx market indicates that the NZDUSD currency pair may provide potential reversal setups in the day-trading session ahead.
Namely, NZDUSD is moving down so far and is nearing the light HFT buying pressure zone, which is located at 0.6222 and below. Fx traders will be looking for potential reversal opportunities there, as more buyers could enter the market at the HFT zone. Previous low located nearby will also provide technical support.
On the upside, the light HFT selling pressure zone is located at 0.6288 and above.
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