- The Danish Krone declined, extending previous session losses as the greenback rallied against a basket of currencies.
- The dollar surged as traders worried about rising tensions between the United States and China, although the easing of lockdown measures limited the upside.
- USD/DKK is trading 0.4 percent up at 6.8687, having hit low of 6.7701 on Friday, its lowest since Apr. 1.
- The pair broke above major resistance 10-DMA and now targets 6.9000 level.
- Immediate resistance is located at 6.8853, close above could take it till 6.8986.
- On the downside, support is seen at 6.8289 (55-EMA), and any break below will take it till 6.8131.
Recommendation: Good to buy on dips around 6.8405, with stop loss of 6.8289 and target price of 6.8853.
