FxWirePro: USD/DKK eases below 6.9000, finds support at 7-EMA
Monday, February 17, 2020 10:11 AM UTC
- The Danish Krone nudged higher, pulling away from over 2-year trough hit last week.
- Investors await Denmark's consumer confidence data for further cues on the strength of the economy.
- USD/DKK is trading 0.1 percent down at 6.8880, having hit high of 6.9007 on Friday, its highest since April 2017
- Momentum indicators are bullish - RSI strong at 74, MACD supports upside and Stochs are at overbought levels
- Immediate resistance is located at 6.9054, close above could take it till 6.9088.
- On the downside, support is seen at 6.8772, and any break below will take it till 6.8721.