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Add as a preferred source on Google FxWirePro: USD/DKK off 3-week peak, good to sell on rallies The Danish Krone edged up, hovering away from a 3-week low hit in the previous session as investors awaited industrial production due tomorrow. USD/DKK is currently trading 0.1 percent down at 6.7376, having hit high of …
By FxWirePro Team Nov 6, 2019, 9:12 AM UTC
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The Danish Krone edged up, hovering away from a 3-week low hit in the previous session as investors awaited industrial production due tomorrow.
USD/DKK is currently trading 0.1 percent down at 6.7376, having hit high of 6.7541 on Tuesday, its highest since October 16.
Momentum indicators are turning bearish on hourly charts - RSI weak at 49.79, Stochs are biased lower and MACD supports downside.
Immediate resistance is located at 6.7643, close above could take it till 6.7735.
On the downside, support is seen at 6.7302, and any break below will take it till 6.7199 (7-EMA).
Recommendation: Good to sell on rallies around 6.7459, with stop loss of 6.7643, and target price of 6.7199
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