FxWirePro: USD/DKK hovers towards 1-1/2 week trough, good to sell on rallies

• The Danish Krone nudged higher, hovering towards a 1-1/2 week peak hit earlier in the week despite soft consumer confidence figures.
• Denmark's consumer confidence index declined to 1.4 in November from 1.7 in the previous month, its weakest reading since December 2016.
• USD/DKK is currently trading 0.1 percent down at 6.7401, having hit low of 6.7379 on Monday, its lowest since November 7.
• Momentum indicators are bearish - RSI weak at 46.15, MACD supports downside and Stochs are biased lower.
• Immediate resistance is located at 6.7569 (7-EMA) close above could take it till 6.7678 (10-DMA).
• On the downside, support is seen at 6.7353, and any break below will take it till 6.7307.

Recommendation: Good to sell on rallies around 6.7487, with stop loss of 6.7537 and target price of 6.7307.