• FxWirePro: USD/DKK retreats from 1-week peak, major support at 21-ema

    Source: FxWire Pro - Technicals / 12 Sep 2019 10:53:58   Europe/London

    • The Danish Krone rose, retreating from a 1-week low hit in the previous session, ahead of Denmark's business confidence data due to release tomorrow. 
    • USD/DKK is currently trading 0.1 percent down at 6.7667, having hit a high of 6.7914 on Wednesday, its highest since September 4. 
    • 21-EMA continues to act as major support
    • Technical indicators support uptrend, with RSI strong at 58.16 
    • Stochs indicate a bearish crossover, a minor dip is expected
    • Immediate resistance is located at  6.7920, close above could take it till 6.8245 (September 3 High).  
    • On the downside, support is seen at 6.7431 (21-EMA), and any break below will take it till 6.7086 (August 27 Low).  

    Recommendation: Good to sell on rallies around 6.7735, with stop loss of 6.7920 and target price of 6.7431 

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