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The USD/DKK currency exchange rate has been in a large scale channel up pattern since late 2020. The pair started March of 2022 with a bounce off from the upper trend line of the channel pattern. Since then, throughout the month the pair has been finding support in the January and February high level zone at 6.6875/6.7000.
A recovery of the US Dollar against the Danish currency might encounter resistance in the 6.7500, 6.8000 and 6.8500 levels, before approaching the upper trend line of the channel up pattern.
Meanwhile, a potential decline below the 6.6875/6.7000 mark could find support in the 50-day simple moving average near the 6.6500 level.
Fri, 18 Mar 2022 10:31:42 GMT
Source: Dukascopy Bank SA
The USD/DKK currency exchange rate has been in a large scale channel up pattern since late 2020. The pair started March of 2022 with a bounce off from the upper trend line of the channel pattern. Since then, throughout the month the pair has been finding support in the January and February high level zone at 6.6875/6.7000.
A recovery of the US Dollar against the Danish currency might encounter resistance in the 6.7500, 6.8000 and 6.8500 levels, before approaching the upper trend line of the channel up pattern.
Meanwhile, a potential decline below the 6.6875/6.7000 mark could find support in the 50-day simple moving average near the 6.6500 level.