- The Danish Krone retreated from a 3-week low hit in the previous session following better-than-expected industrial production figures.
- Denmark's industrial production increased 6.10 percent in September over the same month in the previous year, while on a monthly basis, it rose 1.9 percent from a downwardly revised 2.5 percent decline in August.
- USD/DKK is currently trading 0.1 percent down at 6.7453, having hit high of 6.7584 earlier, its highest since October 16.
- Momentum indicators are turning bearish on hourly charts - RSI weak at 44.28, Stochs are at oversold levels and MACD supports downside.
- Immediate resistance is located at 6.7643, close above could take it till 6.7735.
- On the downside, support is seen at 6.7339 (21-DMA), and any break below will take it till 6.7208 (5-DMA).
Recommendation: Good to sell on rallies around 6.7480, with stop loss of 6.7643, and target price of 6.7208.
