FxWirePro: Danish Krone hovers towards 4-week peak as consumer prices surge in June
The Danish Krone nudged higher, hovering towards a 4-week peak hit in the prior session following the release of upbeat inflation figures. Denmark's consumer prices increased 0.3 percent year-on-year in June, after a fla…
The Danish Krone nudged higher, hovering towards a 4-week peak hit in the prior session following the release of upbeat inflation figures.
Denmark's consumer prices increased 0.3 percent year-on-year in June, after a flat reading in the previous two months, while harmonised consumer prices increased to 102.60 points in June from 102.50 points in May.
Moreover, weakness in the dollar index supported the upside in the Danish currency.
USD/DKK is trading 0.05 down at 6.5951, having hit low of 6.5511 on Thursday, its lowest since June 11.
The pair rose as high as 6.6193 earlier in the session but found strong resistance at 21-EMA to turn lower.
Immediate resistance is located at 6.6273 (21-EMA), close above could take it till 6.6418.
On the downside, support is seen at 6.5680 and any break below will take it till 6.5368.
