USD/DKK may rise 169 - 251 pips

Our pivot point is at 6.9554.

Our preference

The upside prevails as long as 6.9554 is support.

Alternative scenario

Below 6.9554, expect 6.9417 and 6.9335.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 6.9698 and 6.9727). Finally, the USD/DKK is trading above its upper Bollinger band (standing at 6.9741).

Supports and resistances

7.0158 **

7.0076 *

6.9994 **

6.9912

6.9743 last

6.9608

6.9554 **

6.9417 *

6.9335 **

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