USD/DKK may rise 241 - 358 pips

6.8046 is our pivot point.

Our preference

The upside prevails as long as 6.8046 is support.

Alternative scenario

The downside breakout of 6.8046 would call for 6.7850 and 6.7733.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 6.8172 and 6.8138). Finally, the USD/DKK has crossed above its upper Bollinger band (6.8217).

Supports and resistances

6.8810 **

6.8693 *

6.8577 **

6.8460

6.8219 last

6.8123

6.8046 **

6.7850 *

6.7733 **

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