FxWirePro: USD/DKK halts 4-day losing streak, intraday bias bullish

• The Danish Krone retreated from a 1-1/2 week peak as investors awaited November consumer confidence figures, due tomorrow.
   
• Denmark's consumer confidence index declined to 1.7 in October from 4.3 in the previous month, its weakest reading since December 2016.
   
• USD/DKK is currently trading 0.1 percent up at 6.7551, having hit low of 6.7379 on Monday, its lowest since November 7.
   
• Momentum indicators are bullish - RSI strong at 50.27, MACD support upside and Stochs are biased higher.
   
• Immediate resistance is located at  6.7650 (5-DMA) close above could take it till 6.7680 (10-DMA). 
   
• On the downside, support is seen at 6.7421 (21-DMA), and any break below will take it till 6.7307.  
   

Recommendation: Good to buy on dips around 6.7487, with stop loss of 6.7399 and target price of 6.7650.