- The Danish Krone rose, retreating from a 2-week low hit in the previous session following the release of upbeat retail sales figures.
- Denmark's retail sales increased 0.3 percent in August after tumbling 0.1 percent in the previous month.
- On annualized basis, retail sales increased 0.9 percent in August, following an upwardly revised 2.7 percent rise in July.
- USD/DKK is currently trading down at 6.8212, having hit a high of 6.8261 on Wednesday, its highest since September 12.
- Momentum indicators are bullish - RSI strong at 62.87, and Stochs are biased higher, a minor jump likely
- Immediate resistance is located at 6.8287, close above could take it till 6.8370.
- On the downside, support is seen at 6.8042, and any break below will take it till 6.7920.
Recommendation: Good to sell on rallies around 6.8220, with stop loss of 6.8370. and target price of 6.7920,
