AUDUSD rising toward HFT selling zone!

Analysis of HFT trading algorithms this morning shows that the AUDUSDcurrency pair is in an uptrend and is moving toward the light HFT selling pressure zone which is today noted at 0.7304 and above.

The trend is confirmed as bullish by the improved FxTR RSI indicator as shown on the chart below, but the Stochastic oscillator at the bottom shows that momentum is also slowing and bearish divergence between price and momentum already exists. This suggests that bearish trading opportunities could be provided today on AUDUSD in case of a reversal or a retracement of the bullish trend.

The rising trendline that supported the pair during the uptrend stands at 0.7290. A bearish break below it would confirm the bearish divergence signal from the Stochastic and would provide good selling opportunities.

AUDUSD has almost reached the light HFT selling pressure zone now and traders can look to sell after a bearish breakout below the trendline. The light HFT buying pressure zone that is noted at 0.7265 and below would be the first target in sight to the downside.

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