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Add as a preferred source on Google FxWirePro: USD/DKK eases from 3-year peak, good to sell on rallies The Danish Krone nudged up, retreating from an over 3-year trough hit in the previous session as the greenback plunged from recent highs. USD/DKK is trading 0.9 percent down at 6.9218, having hit high of 7.0150 earlier, …
By FxWirePro Team Mar 20, 2020, 8:18 AM UTC
Updated Mar 20, 2020, 9:00 AM UTC 1 min read
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The Danish Krone nudged up, retreating from an over 3-year trough hit in the previous session as the greenback plunged from recent highs.
USD/DKK is trading 0.9 percent down at 6.9218, having hit high of 7.0150 earlier, its highest since January 2017.
Momentum indicators are turning bearish on hourly charts - RSI weak at 47, MACD supports downside and Stochs are biased lower.
Immediate resistance is located at 7.0190, close above could take it till 7.0223.
On the downside, support is seen at 6.8846, and any break below will take it till 6.8722.
Recommendation: Good to sell on rallies around 6.9876, with stop loss of 7.0058 and target price of 6.8846.
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