FxWirePro: USD/DKK near 2-month peak, intra day bias bullish
The Danish Krone slumped to a near 2-month low as the greenback rallied across the board. USD/DKK is currently trading 0.2 percent up at 6.7055, having hit a high of 6.7095 earlier, its highest since May 31. Technical in…
The Danish Krone slumped to a near 2-month low as the greenback rallied across the board.
USD/DKK is currently trading 0.2 percent up at 6.7055, having hit a high of 6.7095 earlier, its highest since May 31.
Technical indicators are still bullish, with the RSI at 63.10 levels showing strength in the current uptrend.
However, Stochs are at overbought and on verge of rollover, minor dip likely.
Major resistance is located at 6.7183 (May 30 High), any daily close above could see bullish continuation.
On the downside, support is seen at 6.6888 (23.6% retracement of 6.6179 and 6.7095), break below could take it till 6.6778 (resistance turned into support).
Recommendation: Good to buy on dips around 6.6888, with stop loss of 6.6778 and target price of 6.7183.
