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The activity of high-frequency Fx trading algorithms this Friday morning shows that the USDCHF currency pair may have reached the low for the day.
For instance, USDCHF reached the light HFT buying pressure zone that is noted at 0.9166 and below, and quickly bounced there.
The price rallied further off the lows and formed a bullish hammer candlestick pattern on the hourly chart. USDCHF bulls will take this as a good sign and may jump in on the opportunity to establish long positions.
To the upside, the light HFT selling pressure zone is located for today's session at 0.9202 and above.
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