FxWirePro: USD/DKK recovers from 10-day low, faces resistance at 21-EMA
Friday, March 27, 2020 9:56 AM UTC
- The Danish Krone eased, halting a 5-day rally as the greenback rebounded from a 1-week low.
- The dollar index attempted a minor recovery after the U.S. House of Representatives Speaker said she expected the chamber to pass an estimated $2.2 trillion virus relief bill when it meets on Friday.
- Earlier in the day, the pair fell to a 10-day below major support 200-DMA but retraced to trade higher.
- USD/DKK is trading 0.3 percent up at 6.7830, having hit low of 6.7331 earlier, its lowest since Mar. 17.
- Momentum indicators are turning bullish on hourly charts.
- Immediate resistance is located at 6.8025 (23.6% Fib), close above could take it till 6.8106 (21-EMA).
- On the downside, support is seen at 6.7263, and any break below will take it till 6.7203.