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- The Danish Krone edged higher from a 4-month trough hit in the previous session following upbeat inflation figures.
- Denmark's annual inflation rate inched higher to 0.7 percent in January, while harmonised consumer prices increased to 102.60 Index Points in January from 102.40 Index Points in December.
- USD/DKK is trading 0.05 percent down at 6.8237, having hit high of 6.8289 on Friday, its highest since Oct. 2.
- Momentum indicators are bearish on hourly charts - RSI point south, MACD supports downside and Stochs are biased lower.
- Immediate resistance is located at 6.8340, close above could take it till 6.8379.
- On the downside, support is seen at 6.8146, and any break below will take it till 6.8083.
Recommendation: Good to sell on rallies around 6.8255, with stop loss of 6.8340 and target price of 6.8083.
