FxWirePro: USD/DKK rebounds from near 2-year low as greenback steadies
Tuesday, July 28, 2020 9:58 AM UTC
- The Danish Krone declined after rising to a near 2 year peak in the prior session as the greenback surged across the board.
- The dollar index rebounded from recent lows as selling pressure eased ahead of a Federal Reserve meeting and as the next U.S. fiscal rescue package moved closer to a conclusion.
- On Monday, the Danish currency rallied after data showed the country's retail sales rose by 6.6 percent year-on-year in June, following a downwardly revised 5.2 percent gain in the previous month.
- USD/DKK is trading 0.2 up at 6.3434, having hit low of 6.3177 the day before, its lowest since September 2018.
- Immediate resistance is located at 6.3817, close above could take it till 6.4226 (7-EMA).
- On the downside, support is seen at 6.2983 and any break below will take it till 6.2750.