FxWirePro: USD/DKK rebounds from 1-year low as greenback recovers on rising U.S. Treasury yields
The Danish Krone eased from an over 1-year peak recorded in the prior session as the greenback recovered following a rebound in the U.S. Treasuries yields. The yields on 10-year U.S. Treasuries rose to 0.63 percent, havi…
The Danish Krone eased from an over 1-year peak recorded in the prior session as the greenback recovered following a rebound in the U.S. Treasuries yields.
The yields on 10-year U.S. Treasuries rose to 0.63 percent, having reached as low as 0.318 percent on Monday.
USD/DKK is trading 1.0 percent up at 6.5872, having hit low of 6.4994 on Monday, its lowest since January 2019.
Momentum indicators are bullish on hourly charts - RSI strong at 60, Stochs are biased higher MACD supports upside.
Immediate resistance is located at 6.6171 (50% retracement of 6.6748 and 6.6994), close above could take it till 6.6448 (61.8% retracement).
On the downside, support is seen at 6.4985, and any break below will take it till 6.4906 / 6.4831.
Recommendation: Good to buy on dips around 6.5261, with stop loss of 6.4985 and target price of 6.6171.
