- The Danish Krone consolidated near a 1-week trough as investors await October retail sales data due tomorrow.
- Denmark's retail sales increased by 0.2 percent year-on-year in September, following a marginally revised 0.95 percent rise in the previous month.
- USD/DKK is currently trading up at 6.7821, having hit high of 6.7844 on Friday, its highest since November 14.
- Momentum indicators are bullish - RSI strong at 57.81, MACD supports upside and Stochs are biased higher.
- Immediate resistance is located at 6.7876, close above could take it till 6.7945.
- On the downside, support is seen at 6.7672 (10-DMA), and any break below will take it till 6.7564 (5-DMA).
Recommendation: Good to buy on dips around 6.7801, with stop loss of 6.7700 and target price of 6.7945.
