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Add as a preferred source on Google FxWirePro: USD/DKK halts 2-day rally, dip till 6.6724 likely The Danish Krone rose after falling for a 1-week low in the previous session. USD/DKK is currently trading 0.3 percent down at 6.6753, having hit low of 6.6475 on Wednesday, its lowest since August 13. Momentum indicator…
By FxWirePro Team Jan 6, 2020, 10:31 AM UTC
Image from the original EconoTimes article Read the original article
The Danish Krone rose after falling for a 1-week low in the previous session.
USD/DKK is currently trading 0.3 percent down at 6.6753, having hit low of 6.6475 on Wednesday, its lowest since August 13.
Momentum indicators are bearish - RSI weak at 38.58, Stochs are biased lower and MACD supports downside.
Immediate resistance is located at 6.7072 (10-DMA), close above could take it till 6.7177 (21-DMA).
On the downside, support is seen at 6.6724, and any break below will take it till 6.6640.
Recommendation: Good to sell on rallies around 6.6940, with stop loss of 6.7020 and target price of 6.6724.
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