- The Danish Krone eases, halting a 2-day rally as the greenback gains across the board.
- USD/DKK is currently trading 0.2 percent up at 6.6675, having hit a high of 6.6864 the day before, its highest since August 5.
- On Monday, the pair rose to a 1-week peak, however, it found major resistance at 10-DMA.
- The pair continues to trade between the 6.6346 and 6.6864 range.
- Technical indicators support uptrend, with Stochs rolling over from oversold levels.
- RSI slightly weak at 49.01, a minor dip expected.
- Immediate resistance is located at 6.6876 (10-DMA), close above could take it till 6.7095 (July 24 High). Any break above 6.7095 targets 6.7707.
- On the downside, support is seen at 6.6500 (trendline joining 6.6346 and 6.6458), and a break below will take it till 6.6447 / 6.6383.
- Minor trend reversal only below 6.6346 (August 6 Low).
Recommendation: Good to buy on dips around 6.6570, with stop loss of 6.6450 and target price of 6.6876.
