USD/DKK may fall 228 - 338 pips

Our pivot point is at 6.9872.

Our preference

Target 6.9377.

Alternative scenario

The upside breakout of 6.9872, would call for 7.0056 and 7.0165.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (6.9735) but above its 50 period moving average (6.9696).

Supports and resistances

7.0165 **

7.0056 *

6.9872 **

6.9800

6.9715 last

6.9487

6.9377 **

6.9268 *

6.9159 **

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