USD/DKK may rise 236 - 352 pips

Our pivot point is at 6.7893.

Our preference

The upside prevails as long as 6.7893 is support.

Alternative scenario

The downside breakout of 6.7893 would call for 6.7698 and 6.7582.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 6.7992 and 6.7951). Finally, the USD/DKK has crossed above its upper Bollinger band (6.8080).

Supports and resistances

6.8671 **

6.8555 *

6.8438 **

6.8322

6.8086 last

6.7970

6.7893 **

6.7698 *

6.7582 **

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