Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/DKK rebounds from 1-week trough, faces resistance at 55-EMA

  • The Danish Krone retreated further from to a 1-week peak hit in the previous session, as the greenback surged on encouraging U.S. economic data
     
  • USD/DKK is currently trading 0.1 percent up at 6.7195, having hit low of 6.6886 the day before, its lowest since Jan. 7.
     
  • On Thursday, the pair fell tumbled to a 1-week low but retraced to close 0.1 percent higher at 6.7101. 
     
  • Momentum indicators are bullish - RSI strong at 51.25, MACD supports upside and Stochs are biased higher.
     
  • Immediate resistance is located at  6.7268 (55-EMA), close above could take it till 6.7310. 
     
  • On the downside, support is seen at 6.7005, and any break below will take it till 6.6975.  
     

Recommendation: Good to buy on dips around 6.7099, with stop loss of 6.7005 and target price of 6.7268 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.