USD/DKK 4H Chart: Broadening Rising Wedge

After a temporary down-leg USD/DKK is again showing bullish signs, in order to prolong movement between two upward-sloping trend-lines. Despite penetrating all moving average lines in the range of 6.86-6.88, the pair is now facing one more tough resistance represented by the monthly pivot point at 6.9036. Buoyant expectations are guaranteed by all technical indicators, while the strongly oversold status of the Dollar (70% short) will positively support this currency in the long-term. The bullish scenario is reinforced by the fact that 55-period SMA has just crossed the 200-hour SMA to the upside. After overcoming the monthly PP, the focus will turn to the last week's high at 6.9650, followed by the 7.00 mark.