- The Danish Krone declined, drifting further away from a near 2-month peak hit in the prior session, ahead of consumer confidence data due tomorrow.
- Denmark's consumer confidence index is expected to decline to 3.9 in October from 4.3 in September.
- USD/DKK is currently trading 0.1 percent up at 6.7088, having hit low of 6.6829 the day before, its lowest since August 26.
- Momentum indicators are bullish on hourly charts - RSI strong at 64.28, MACD supports upside and Stochs are biased higher.
- Immediate resistance is located at 6.7253 (38.2% retracement of 6.7969 and 6.6829), close above could take it till 6.7389 (50% retracement).
- On the downside, support is seen at 6.6914, and any break below will take it till 6.6790
Recommendation: Good to buy on dips around 6.7015, with stop loss of 6.6848 and target price of 6.7253