USD/DKK may rise 246 - 364 pips

Our pivot point stands at 6.8075.

Our preference

Look for a drop towards 6.8075 before a bounce.

Alternative scenario

The downside breakout of 6.8075 would call for 6.7877 and 6.7759.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is below its 20 period moving average (6.8257) but above its 50 period moving average (6.8224).

Supports and resistances

6.8840 **

6.8722 *

6.8604 **

6.8486

6.8240 last

6.8153

6.8075 **

6.7877 *

6.7759 **

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