USD/DKK may fall 193 - 286 pips

Our pivot point stands at 6.8603.

Our preference

The downside prevails as long as 6.8603 is resistance.

Alternative scenario

The upside breakout of 6.8603, would call for 6.8760 and 6.8854.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 6.8507 and 6.8487). Finally, the USD/DKK is trading below its lower Bollinger band (standing at 6.8447).

Supports and resistances

6.8854 **

6.8760 *

6.8603 **

6.8541

6.8419 last

6.8226

6.8133 **

6.8039 *

6.7945 **

Number of asterisks represents the strength of support and resistance levels.