- The Danish Krone rallied to a near 3-week peak following better-than-expected inflation figures.
- Denmark's annual inflation rate increased to 0.5 percent in September from 0.4 percent in the previous month.
- USD/DKK is currently trading 0.5 percent down at 6.7724, having hit low of 6.7691 earlier, its lowest since September 20.
- Momentum indicators are bearish - RSI weak at 46.46, MACD support downside and Stochs are biased lower
- Immediate resistance is located at 6.8201 (10-DMA), close above could take it till 6.8379.
- On the downside, support is seen at 6.7606, and any break below will take it till 6.7450.
Recommendation: Good to sell on rallies around 6.7969, with stop loss of 6.8201 and target price of 6.7606.
