- The Danish Krone surged to an over 1-month peak as the greenback weakened against a basket of currencies.
- USD/DKK is currently trading 0.2 percent down at 6.7346, having hit low of 6.7331 earlier, its lowest since September 13.
- On Wednesday, the pair breached major support 55-EMA, to close lower at 6.7480.
- 55-EMA is now acting as minor resistance.
- Momentum indicators are bearish - RSI weak at 39.05, MACD supports downside and Stochs are at oversold levels.
- Immediate resistance is located at 6.7689 (5-DMA), close above could take it till 6.7760 (7-EMA).
- On the downside, support is seen at 6.7302, and any break below will take it till 6.7181.
Recommendation: Good to sell on rallies around 6.7424, with stop loss of 6.7570 and target price of 6.7302.