FxWirePro: USD/DKK hovers towards near 2 year low, dip till 6.4000 likely
Thursday, July 23, 2020 10:55 AM UTC
- The Danish Krone surged, hovering towards a near 2 year peak hit in the prior session as the greenback declined against a basket of currencies.
- The dollar index plunged to an over 4-month low as investors took a wait and see approach to tensions between the United States and China.
- The United States gave China until Friday to close its consulate in Houston amid allegations of spying.
- USD/DKK is trading 0.1 down at 6.4251, having hit low of 6.4168 the day before, its lowest since October 2018.
- Immediate resistance is located at 6.4660, close above could take it till 6.4889 (5-DMA).
- On the downside, support is seen at 6.4155 and any break below will take it till 6.4010.