FxWirePro: USD/DKK hovers towards 1-month peak, struggles to break above 6.4000
Friday, October 30, 2020 10:16 AM UTC
- The Danish Krone plunged, hovering towards a 1-month low hit in the prior session as the greenback steadied against a basket of currencies.
- The dollar index steadied after rising to a 1-month peak in the previous session on data showing the U.S. economy grew at a record pace for the third quarter and an improving trend in jobless claims.
- U.S. gross domestic product rebounded at a 33.1 percent annualised rate last quarter, while 751,000 people in the United States filed for state unemployment benefits in the week ended Oct. 24, compared with 791,000 the previous period.
- USD/DKK is trading 0.1 percent higher at 6.3818, having hit high of 6.3910 on Thursday, its highest since September 28.
- Immediate resistance is located at 6.4020, close above could take it till 6.4102.
- On the downside, support is seen at 6.3584 and any break below will take it till 6.3427 (55-EMA).