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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 …

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FxWirePro: USD/DKK at 2-week peak, good to buy on dips
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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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