- The Danish Krone rallied, hovering towards a near 8-week peak hit in the previous session.
- USD/DKK is currently trading 0.1 percent down at 6.7115, having hit low of 6.7063 on Thursday, its lowest since August 26.
- Momentum indicators are bearish - RSI weak at 35.20, MACD supports downside and Stochs are at oversold levels.
- 55-EMA is acting as the next major resistance.
- Immediate resistance is located at 6.7355 (23.6% retracement of 6.8265 and 6.7063), close above could take it till 6.7530 (38.2% retracement).
- On the downside, support is seen at 6.6907, and any break below will take it till 6.6790.
Recommendation: Good to sell on rallies around 6.7144, with stop loss of 6.7302 and target price of 6.6897.
By Lactus Fernandes