USD/DKK may fall 138 - 204 pips

Our pivot point stands at 6.8976.

Our preference

The downside prevails as long as 6.8976 is resistance.

Alternative scenario

Above 6.8976, look for 6.9087 and 6.9153.

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 6.8944 and 6.8949).

Supports and resistances

6.9153 **

6.9087 *

6.8976 **

6.8933

6.8884 last

6.8746

6.8680 **

6.8614 *

6.8548 **

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