- The Danish Krone plunged to a 4-month trough following downbeat industrial production figures.
- Denmark's industrial production fell 6.2 percent year-on-year in December, following a revised 6.3 percent decline in the previous month.
- USD/DKK is currently trading 0.2 percent up at 6.8208, having hit high of 6.8256 earlier, its highest since Oct. 2.
- Momentum indicators are bullish - RSI strong at 66.63, MACD supports upside and Stochs are at overbought levels.
- Immediate resistance is located at 6.8287, close above could take it till 6.8379.
- On the downside, support is seen at 6.7962, and any break below will take it till 6.7901.
Recommendation: Good to buy on dips around 6.8060, with stop loss of 6.7962 and target price of 6.8287.
