USD/DKK may rise 177 - 250 pips

Our pivot point is at 6.8698.

Our preference

The upside prevails as long as 6.8698 is support.

Alternative scenario

The downside breakout of 6.8698 would call for 6.8576 and 6.8503.

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 6.8734 and 6.8740).

Supports and resistances

6.9197 **

6.9123 *

6.9050 **

6.8977

6.8800 last

6.8747

6.8698 **

6.8576 *

6.8503 **

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