FxWirePro: USD/DKK consolidates near 3-week peak, intraday bias bullish
The Danish Krone steadied near an over 3-week low hit in the previous session as the dust settled on yesterday's better-than-expected industrial production figures. USD/DKK is currently trading flat at 6.7637, having hit…
The Danish Krone steadied near an over 3-week low hit in the previous session as the dust settled on yesterday's better-than-expected industrial production figures.
USD/DKK is currently trading flat at 6.7637, having hit high of 6.7718 on Thursday, its highest since October 16.
Momentum indicators are turning bullish - RSI strong at 55.78, Stochs are at overbought levels and MACD supports upside.
Immediate resistance is located at 6.7820, close above could take it till 6.7970.
On the downside, support is seen at 6.7476, and any break below will take it till 6.7333 (5-DMA).
Recommendation: Good to buy on dips around 6.7616, with stop loss of 6.7516, and target price of 6.7820.
