FxWirePro: Danish Krone retreats from near 4-week trough on better-than-expected CPI

• The Danish Krone rebounded from a near 4-week low hit in the previous session following better-than-expected inflation figures.
   
• Denmark's annual inflation rate increased to 0.6 percent in October from 0.5 percent in the previous month, its highest inflation rate since June. 
   
• USD/DKK is currently trading 0.1 percent down at 6.7749, having hit high of 6.7835 on Friday, its highest since October 15.
   
• Momentum indicators are bearish on hourly charts - RSI weak at 49.58, Stochs are at oversold levels and MACD supports downside.
   
• Immediate resistance is located at  6.7959 close above could take it till 6.8042. 
   
• On the downside, support is seen at 6.7513 (5-DMA), and any break below will take it till 6.7424 (21-EMA).
   

Recommendation: Good to sell on rallies around 6.7780, with stop loss of 6.7889, and target price of 6.7513.