Technicals

Add as a preferred source on Google

FxWirePro: USD/DKK off near 2-week peak, dip till 6.7027 likely

The Danish Krone rose, retreating from a near 2-week low hit in the previous session. USD/DKK is currently trading 0.1 percent down at 6.7242, having hit high of 6.6310 on Wednesday, its highest since Dec. 27. Momentum i…

1 min read
FxWirePro: USD/DKK off near 2-week peak, dip till 6.7027 likely
Image from the original EconoTimes article

Read the original article

  • The Danish Krone rose, retreating from a near 2-week low hit in the previous session.
     
  • USD/DKK is currently trading 0.1 percent down at 6.7242, having hit high of 6.6310 on Wednesday, its highest since Dec. 27.
     
  • Momentum indicators are bearish on hourly charts - Stochs are biased lower and MACD supports downside.
     
  • Immediate resistance is located at  6.7378, close above could take it till 6.7447. 
     
  • On the downside, support is seen at 6.7157, and any break below will take it till 6.7027 (200-DMA).  

Recommendation: Good to sell on rallies around 6.7284, with stop loss of 6.7378, and target price of 6.7027.

Related articles

View all
Technicals

Major Pair Currency Score: AUDUSD Bearish

EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560