- The Danish Krone eased, extending previous session losses, as the greenback surged against a basket of currencies.
- USD/DKK is trading 0.4percent up at 6.8912, having hit high of 6.8998 on Friday, its highest since Apr. 7.
- On Monday, the fell to a low of 6.8452 but found strong support at 21-EMA.
- Technical indicators support upside. 21-EMA continues to act as major support.
- Investors now await Danish consumer confidence index, which is expected to decline to 3 in April after rising 0.4 percent in March.
- Immediate resistance is located at 6.9009, close above could take it till 6.9075/ 6.9138.
- On the downside, support is seen at 6.8535 (7-EMA), and any break below will take it till 6.8440 (21-DMA).
Recommendation: Good to buy on dips around 6.8660, with stop loss of 6.8587 and target price of 6.9009.
