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Add as a preferred source on Google FxWirePro: USD/DKK at 1-week peak, likely to continue bullish momentum The Danish Krone plunged to an over 1-week low as the greenback surged against a basket of currencies. The greenback index is on course for a near 2.6 percent gain over the week as the U.S. Federal Reserve flooded the ma…
By FxWirePro Team Apr 3, 2020, 9:59 AM UTC
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The Danish Krone plunged to an over 1-week low as the greenback surged against a basket of currencies.
The greenback index is on course for a near 2.6 percent gain over the week as the U.S. Federal Reserve flooded the market with liquidity.
On Thursday, the pair broke above major resistance 10-DMA, to close 1.01 percent up at 6.8772.
USD/DKK is trading 0.5 percent up at 6.9104, having hit low of 6.6950 last week, its lowest since Mar. 17.
Momentum indicators are bullish, likely to break above 6.9250.
Immediate resistance is located at 6.9440, close above could take it till 6.9642.
On the downside, support is seen at 6.8642, and any break below will take it till 6.8386 (38.% Fib).
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