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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…
By FxWirePro Team Jul 31, 2019, 8:55 AM UTC
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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.
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