- The Danish Krone slumped to a near 2-month low as the greenback rallied across the board.
- USD/DKK is currently trading 0.2 percent up at 6.7055, having hit a high of 6.7095 earlier, its highest since May 31.
- Technical indicators are still bullish, with the RSI at 63.10 levels showing strength in the current uptrend.
- However, Stochs are at overbought and on verge of rollover, minor dip likely.
- Major resistance is located at 6.7183 (May 30 High), any daily close above could see bullish continuation.
- On the downside, support is seen at 6.6888 (23.6% retracement of 6.6179 and 6.7095), break below could take it till 6.6778 (resistance turned into support).
Recommendation: Good to buy on dips around 6.6888, with stop loss of 6.6778 and target price of 6.7183.
