- The Danish Krone rebounded from a 2-week trough following the release of upbeat business confidence figures.
- Denmark's manufacturing confidence indicator increased to -6 in November from -12 in the previous month, its strongest reading since August.
- USD/DKK is currently trading 0.2 percent down at 6.7822, having hit high of 6.7966 on Wednesday, its highest since November 14.
- Momentum indicators are bearish on hourly charts- RSI weak at 38.35, MACD supports downside and Stochs are biased lower.
- Immediate resistance is located at 6.7962, close above could take it till 6.8042.
- On the downside, support is seen at 6.7802, and any break below will take it till 6.7764 (7-EMA).
Recommendation: Good to buy on dips around 6.7901, with stop loss of 6.7962, and target price of 6.7764.
