USD/DKK may rise 186 - 273 pips

Our pivot point stands at 6.8611.

Our preference

As long as 6.8611 is support look for 6.9028.

Alternative scenario

The downside breakout of 6.8611 would call for 6.8465 and 6.8378.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 6.8719 and 6.8647).

Supports and resistances

6.9203 **

6.9115 *

6.9028 **

6.8941

6.8755 last

6.8669

6.8611 **

6.8465 *

6.8378 **

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