Daily HFT Trade Setup – NZDUSD Struggles to Extend Gains Above HFT Selling Pressure Zone
The activity of high-frequency trading algorithms this morning shows that the NZDUSD pair was volatile early in the session but has since stayed within the range of the tall hourly candle.
NZDUSD surged in early Asia on the release of the New Zealand CPI report (beat estimates) and reached the light HFT selling pressure zone that is located today at 0.7026 and above. But selling forces appear to be too strong for the bulls to push through for the time being, and the pair is now off the lows.
NZDUSD bears may be hopeful of a reversal, which could come for example, with a move below the 0.70 round number level
The light HFT buying pressure zone today is located at 0.6946 and below.
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