- The Danish Krone eased, hovering towards a near 2-1/2 week trough hit in the previous session as the greenback steadied on Fed measures to combat virus impact.
- The Trump administration pursued a $1 trillion stimulus package that could deliver $1,000 checks to Americans within two weeks to support an economy hit by the virus, while the Fed stated that it would reinstate a funding facility to get credit directly to businesses and households as fears over a liquidity crunch grew.
- USD/DKK is trading 0.2 percent up at 6.8055, having hit high of 6.8216 on Tuesday, its highest since Feb. 28.
- Momentum indicators are bullish - RSI strong at 56, MACD supports upside and Stochs are biased higher.
- Immediate resistance is located at 6.8241 / 6.8395, close above could take it till 6.8631.
- On the downside, support is seen at 6.7560 (21-DMA), and any break below will take it till 6.7294 (21-EMA).
Recommendation: Good to buy on dips around 6.7960, with stop loss of 6.7771 and target price of 6.8395.