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FxWirePro: USD/DKK breaks above 55-EMA, jump till 6.3723 likely

The Danish Krone plunged to a near 2-week low as the greenback surged against a basket of currencies. The dollar index gained amid rising coronavirus cases and scant progress towards a U.S. stimulus deal. The greenback a…

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FxWirePro: USD/DKK breaks above 55-EMA, jump till 6.3723 likely
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  • The Danish Krone plunged to a near 2-week low as the greenback surged against a basket of currencies.
     
  • The dollar index gained amid rising coronavirus cases and scant progress towards a U.S. stimulus deal. 
     
  • The greenback against a basket of currencies traded 0.3 percent up at 93.71, having touched a high of 93.76 earlier, its highest since October 8.
     
  • USD/DKK is trading 0.3 percent higher at 6.3551, having hit high of 6.3596 earlier, its highest since October 2.
     
  • Immediate resistance is located at 6.3723, close above could take it till 6.3844. 
     
  • On the downside, support is seen at 6.3190 (5-DMA) and any break below will take it till 6.3007. 

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