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FxWirePro: USD/DKK breaks below 200-DMA, intraday bias bearish

  • The Danish Krone rallied to a 1-week peak, hovering away from multi-week lows hit last week. 
     
  • USD/DKK is currently trading 0.2 percent down at 6.7037, having hit low of 6.6990 earlier, its lowest since Jan. 8.
     
  • The pair broke below major support at 200-DMA, recording a fresh 1-week trough. 
     
  • Momentum indicators are bearish - RSI weak at 46.11 and Stochs indicate a bearish crossover. 
     
  • Immediate resistance is located at  6.7283 (55-EMA), close above could take it till 6.7370. 
     
  • On the downside, support is seen at 6.6955, and any break below will take it till 6.6909 / 6.6875.  

Recommendation: Good to sell on rallies around 6.7131, with stop loss of 6.7243 and target price of 6.7370. 

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