FxWirePro: USD/DKK hovers towards 4-month low, dip till 6.6947 likely
Monday, December 16, 2019 10:29 AM UTC
- The Danish Krone rose, hovering towards a 4-month peak recorded in the previous session.
- USD/DKK is currently trading 0.1 percent down at 6.7140, having hit low of 6.6724 on Friday, its lowest since August 14.
- Last week, the pair broke below major support 200-DMA but retraced to close up at 6.7206.
- Momentum indicators are bearish - RSI weak at 39.66, and MACD supports downside.
- Immediate resistance is located at 6.7302 (7-EMA), close above could take it till 6.7354 (20-DMA).
- On the downside, support is seen at 6.6997, and any break below will take it till
- Recommendation: Good to sell on rallies around 6.7180, with stop loss of 6.7278, and target price of 6.6947.