USD/DKK 1H Chart: Falling Wedge

Source: Dukascopy Bank SA
© Dukascopy Bank SA
USD/DKK lost loads of value in a three-day downtrend with extreme steepness, but now appears to be building up some bullish potential or at least signalling that a ranging market is on its way to take over the trend. The pair is currently attempting to overstep the upper boundary at 6.9223 and we will look for the area to break soon, setting 6.9299 as the next area to target. Ground is currently resting at 6.9201 and has been quite successful in limiting access to any levels below during today's trading session.
© Dukascopy Bank SA
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