FxWirePro: USD/DKK struggles to break above 6.7600, faces resistance at 21-DMA
The Danish Krone eased, hovering towards a near 2-week trough hit last week, as the greenback rebounded across the board. U.S. President Donald Trump urged Americans to halt most social activities for 15 days and not ass…
The Danish Krone eased, hovering towards a near 2-week trough hit last week, as the greenback rebounded across the board.
U.S. President Donald Trump urged Americans to halt most social activities for 15 days and not assemble in groups larger than 10 people in a newly aggressive effort to reduce the spread of the virus in the country.
USD/DKK is trading 0.7 percent up at 6.7334, having hit high of 6.7604 on Friday, its highest since March 2.
Momentum indicators are bullish - RSI strong at 50, MACD supports upside and Stochs are biased higher.
Immediate resistance is located at 6.7522 (55-EMA), close above could take it till 6.7608 (21-DMA).
On the downside, support is seen at 6.6540 (10-DMA), and any break below will take it till 6.6302.
Recommendation: Good to buy on dips around 6.6835, with stop loss of 6.6642 and target price of 6.7522.
