FxWirePro: USD/DKK eases from 3-week peak, struggles to break above 6.6800
Monday, June 22, 2020 11:58 AM UTC
- The Danish Krone surged, halting a 4-day losing streak following the release of better-than-expected consumer confidence figures.
- The Danish consumer confidence index increased to -3.1 in June, due to an improvement in expectations regarding households' financial situation and general economic situation.
- Moreover, a decline in the dollar against a basket of currencies further supported the upside in the Danish currency.
- The greenback eased from recent peaks amid renewed worries about a second wave of coronavirus infections.
- USD/DKK is trading 0.3 percent down at 6.6493, having hit high of 6.6760 earlier in the day, its highest since June 2.
- Immediate resistance is located at 6.6820, close above could take it till 6.7065.
- On the downside, support is seen at 6.6320 (5-DMA) and any break below will take it till 6.6110 (10-DMA).