At the end of June, the USD/DKK exchange rate reversed north from the psychological level at 6.5400. Currently, the rate is testing the resistance level formed by the weekly and monthly R1s at 6.6589.
Given, that the currency pair is supported by the 55-, 100– and 200-hour SMAs, currently located in the 6.6387/6.6460 range, it is likely, that some upside potential could prevail in the market. The pair could target the resistance level located at the 6.7114 mark.
It is unlikely, that the rate could tumble lower than the 6.4800/6.5400 area due to the support of the lower boundary of the long-term ascending