Technicals

Add as a preferred source on Google

FxWirePro: USD/DKK halts 2-day losing streak on Denmark's downbeat unemployment rate, bias bullish

The Danish Krone eased from a near 1-week peak recorded earlier session following the release of the downbeat unemployment rate. Denmark's unemployment rate rose 3.1 in June from the previous month's 3.0 percent. USD/DKK…

1 min read
FxWirePro: USD/DKK halts 2-day losing streak on Denmark's downbeat unemployment rate, bias bullish
Image from the original EconoTimes article

Read the original article

  • The Danish Krone eased from a near 1-week peak recorded earlier session following the release of the downbeat unemployment rate.
     
  • Denmark's unemployment rate rose 3.1 in June from the previous month's 3.0 percent. 
     
  • USD/DKK is currently trading 0.1 percent up at 6.6978, having hit a low of 6.6897 earlier, its lowest since July 25. 
     
  • Momentum indicators show a bullish trend, with RSI higher at 60.49 levels and Stochs bullish crossover.
     
  • Immediate resistance is located at 6.7095 (July 24 High), close above could take it till 6.7242 (July 25 High). 
     
  • On the downside, minor support is seen at 6.6788 (10-DMA), break below could take till 6.6738 (July 25th Low)/ 6.6630 (21-EMA). 
    ​

Recommendation: Good to buy on dip around 6.6900, with stop loss around 6.6788 for target price of 6.7242.

 

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560