- The Danish Krone eased, hovering towards a near 3-year trough as investors ignore better-than-expected retail sales.
- Denmark's retail sales increased 0.5 percent in January after posting a decline of 0.4 percent in the prior month, while on an annualized basis, retail sales jumped 2.7 percent, rebounding from a downwardly revised 0.5 percent drop in December.
- USD/DKK is trading 0.2 percent up at 6.9017, having hit high of 6.9297 on Thursday, its highest since April 2017.
- Momentum indicators are bullish - RSI strong at 65, MACD supports upside and Stochs are at overbought levels
- Immediate resistance is located at 6.9164, close above could take it till 6.9218.
- On the downside, support is seen at 6.8846, and any break below will take it till 6.8786.
Recommendation: Good to buy on dips around 5.8893, with stop loss of 6.8846 and target price of 6.9164.