| Indicator | 4H | 1D | 1W |
|---|---|---|---|
| MACD(12;26;9) | Buy | Buy | Buy |
| RSI(14) | Neutral | Neutral | Neutral |
| Stochastic(5;3;3) | Sell | Neutral | Neutral |
| Alligator(13;8;5) | Buy | Buy | Buy |
| SAR(0.02;0.2) | Buy | Buy | Buy |
| Aggregate | ⇗ | ⇗ | ⇗ |
The USD/DKK exchange rate has been trading upwards since the beginning of August after it reversed north from the psychological level at 6.6400. Currently, the rate is testing the resistance of the weekly R1 at 6.7316.
Given that the currency pair is supported by the 55-, 100– and 200-hour moving averages, it is likely that some upside potential could prevail in the market. A possible upside target is the upper boundary of the long-term ascending channel located in the 6.7800/6.8000 range.
If the given channel holds, it is likely that a reversal south could occur. Otherwise, it is expected that the pair could breach the given trend north and continue to go upwards. Note that the rate would have to surpass the monthly R1 at 6.8084.