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- The Danish Krone rallied to a 2-1/2 week high following the release of upbeat business confidence data.
- Denmark's manufacturing confidence indicator increased to -4 in February from -9 in the previous month, its highest reading since May 2019.
- USD/DKK is trading 0.6 percent down at 6.8276, having hit low of 6.8248 earlier, its lowest since Feb. 10.
- Momentum indicators are turning bearish - RSI weak at 48, MACD supports downside and Stochs are biased lower.
- Immediate resistance is located at 6.8722, close above could take it till 6.8808 (7-EMA).
- On the downside, support is seen at 6.8194, and any break below will take it till 6.8146.
Recommendation: Good to sell on rallies around 5.8655, with stop loss of 6.8722 and target price of 6.8194.
