USD/DKK may fall 174 - 255 pips

Our pivot point stands at 6.9525.

Our preference

The downside prevails as long as 6.9525 is resistance.

Alternative scenario

Above 6.9525, look for 6.9662 and 6.9744.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 6.9438 and 6.9448). Finally, the USD/DKK is trading below its lower Bollinger band (standing at 6.9393).

Supports and resistances

6.9744 **

6.9662 *

6.9525 **

6.9472

6.9372 last

6.9198

6.9117 **

6.9035 *

6.8954 **

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