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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…

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FxWirePro: USD/DKK halts 2-day rally, dip till 6.6724 likely
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  • 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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