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- The Danish Krone rallied to a near 2-month peak, having breached the 6.6900 level in the previous session.
- USD/DKK is currently trading 0.05 percent down at 6.6855, having hit low of 6.6829 earlier, its lowest since August 26.
- Momentum indicators are bearish - RSI weak at 31.75, MACD supports downside and Stochs are at oversold levels.
- Immediate resistance is located at 6.7086 (23.6% retracement of 6.7969 and 6.6829), close above could take it till 6.7253 (38.2% retracement).
- On the downside, support is seen at 6.6790, and any break below will take it till 6.6597 (200-DMA)
Recommendation: Good to sell on rallies around 6.6914, with stop loss of 6.7071 and target price of 6.6790.
