USD/DKK may fall 197 - 286 pips

Our pivot point is at 6.8638.

Our preference

As long as 6.8638 is resistance look for 6.8233.

Alternative scenario

Above 6.8638, look for 6.8786 and 6.8874.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands above its 20 period moving average (6.8510) but below its 50 period moving average (6.8529).

Supports and resistances

6.8874 **

6.8786 *

6.8638 **

6.8579

6.8519 last

6.8322

6.8233 **

6.8145 *

6.8057 **

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