USD/DKK 1H Chart: Pair targets lower trend line

Note: This section contains information in English only.
Source: Dukascopy Bank SA

Indicator 4H 1D 1W
MACD (12; 26; 9) Sell Sell Buy
RSI (14) Neutral Neutral Neutral
Stochastic (5; 3) Neutral Neutral Neutral
Alligator (13; 8; 5) Neutral Sell Buy
SAR (0.02; 0.2) Buy Sell Sell
Aggregate

The Danish Krone has been appreciating against the US Dollar since the exchange rate reversed from the upper boundary of the long-term ascending channel at 6.5500. This movement has been bounded in the short-term ascending channel.  

From a theoretical point of view, the general direction is expected to remain south as the currency pair targets the lower channel line located in the 6.4200/6.4400 range.  

However, the pair's neat movement in the junior pattern suggest that its next movement should be north towards the upper channel line located the 6.5900 mark.

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