The price line on USDDKK pair has been moving within a bullish channel since February 7th 2022. The channel is highlighted with light blue on the chart. As the chart suggests, this channel has not yet been broken and therefore is considered valid. The price on the mentioned pair is currently on 7.56924, moving towards the bottom line of the channel. Buyers should keep an eye on the chart and expect the bearish leg to maintain until the price line reaches the support level on the chart, there they can enter long positions, heading towards the resistance levels above it.
There is resistance on 7.64197 followed by resistances at 7.72417 and 7.79850
• There is support at 7.43724 Below, there is 7.38124 and 7.26000
Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.
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