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FxWirePro: USD/DKK rallies to 1-1/2 week peak, intraday bias bullish

The Danish Krone rallied, extending previous session gains. USD/DKK is currently trading 0.4 percent up at 6.8033, having hit a high of 6.8083 earlier, its highest since September 12. Momentum indicators are bullish - RS…

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FxWirePro: USD/DKK rallies to 1-1/2 week peak, intraday bias bullish
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  • The Danish Krone rallied, extending previous session gains.
     
  • USD/DKK is currently trading 0.4 percent up at 6.8033, having hit a high of 6.8083 earlier, its highest since September 12. 
     
  • Momentum indicators are bullish - RSI strong at 60.91, MACD supports upside and Stochs are biased higher. 
     
  • Immediate resistance is located at  6.8121, close above could take it till 6.8245 (September 3).  
     
  • On the downside, support is seen at 6.7663 (7-EMA), and any break below will take it till 6.7531 (21-EMA).  

Recommendation: Good to buy on dips around 6.7808, with stop loss of 6.7663 and target price of 6.8121. 

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