USD/DKK 1H Chart: Junior channel in sight

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

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

The US Dollar has been depreciating gradually against the Danish Krone since the beginning of November. This movement has been bounded in the descending channel.  

Currently, the currency pair is testing the upper channel line at 6.6306. If given channel holds, it is likely that a reversal south occurs in the nearest future, and the exchange rate targets the lower channel line circa 6.4650. 

Otherwise, a breakout north occurs within following trading sessions. It is expected that the pair targets the upper boundary of the long-term ascending channel located circa 6.7265.

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