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Add as a preferred source on Google FxWirePro: USD/DKK at 2-week peak, good to buy on dips The Danish Krone plunged to a near 2-week trough as the dust settled on yesterday's mixed retail sales figures. USD/DKK is currently trading 0.1 percent up at 6.7865, having hit high of 6.7905 earlier, its highest since …
By FxWirePro Team Nov 27, 2019, 10:05 AM UTC
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The Danish Krone plunged to a near 2-week trough as the dust settled on yesterday's mixed retail sales figures.
USD/DKK is currently trading 0.1 percent up at 6.7865, having hit high of 6.7905 earlier, its highest since November 14.
Momentum indicators are bullish- RSI strong at 56.42, MACD supports upside and Stochs are biased higher.
Immediate resistance is located at 6.7962, close above could take it till 6.8042.
On the downside, support is seen at 6.7710 (7-EMA), and any break below will take it till 6.7676 (10-DMA).
Recommendation: Good to buy on dips around 6.7830, with stop loss of 6.7710 and target price of 6.8042.
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