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FxWirePro: USD/DKK hovers towards 1-week low, dip till 6.7856 likely

The Danish Krone rallied, extending gains for the fourth straight session. On Thursday, the pair tumbled to a 1-week low but found strong resistance at 21-DMA. USD/DKK is currently trading at 6.8030, having hit an all-ti…

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FxWirePro: USD/DKK hovers towards 1-week low, dip till 6.7856 likely
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  • The Danish Krone rallied, extending gains for the fourth straight session. 
     
  • On Thursday, the pair tumbled to a 1-week low but found strong resistance at 21-DMA.
     
  • USD/DKK is currently trading at 6.8030, having hit an all-time high of 6.8620 earlier in the week.  
     
  • Momentum indicators are bearish on hourly charts- RSI week at 44.57, MACD support downside and Stochs are biased lower
     
  • Immediate resistance is located at  6.8252 (5-DMA), close above could take it till 6.8476. 
     
  • On the downside, support is seen at 6.7910 (21-EMA), and any break below will take it till 6.7704.  

Recommendation: Good to sell on rallies around 6.8083, with stop loss of 6.8157 and target price of 6.7856.  

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