FxWirePro: USD/DKK declines on Denmark's upbeat inflation rate, good to sell on rallies

• The Danish Krone surged, extending previous session gains following the release of upbeat inflation figures.
   
• Denmark's annual inflation rate rose to 0.7 percent in November from 0.6 percent in the previous month, matching market consensus and recording its highest reading since May.
   
• USD/DKK is currently trading 0.1 percent down at 6.7485, having hit high of 6.7683 on Friday, its highest since December 2.
   
• Momentum indicators are bearish - RSI weak at 47.22, MACD supports downside and Stochs indicate a bearish crossover.
   
• Immediate resistance is located at  6.7577 (21-EMA), close above could take it till 6.7607 (10-DMA). 
   
• On the downside, support is seen at 6.7451 (5-DMA), and any break below will take it till 6.7398.  

Recommendation: Good to sell on rallies around 6.7528, with stop loss of 6.7577 and target price of 6.7398.