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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 …

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FxWirePro: USD/DKK off 3-week peak, good to sell on rallies
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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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