FxWirePro: USD/DKK consolidates within narrow ranges amid market turmoil
The Danish Krone consolidated within narrow ranges as investors turned cautious amid fragile equities and falling crude price The Danish is currency is likely to remain on the downside, weighed down by weak consumer conf…
The Danish Krone consolidated within narrow ranges as investors turned cautious amid fragile equities and falling crude price
The Danish is currency is likely to remain on the downside, weighed down by weak consumer confidence index figures.
Denmark's consumer confidence index declined sharply to -11.9 in April from 0.4 in the previous month, its lowest reading since December 2008, due to a deterioration in expectations regarding households' financial situation and general economic situation.
USD/DKK is trading flat at 6.8685, having hit high of 6.8998 on Friday, its highest since Apr. 7.
21-EMA continues to act as major support. Minor resistance is seen at 6.9000 level.
Immediate resistance is located at 6.8851, close above could take it till 6.9009.
On the downside, support is seen at 6.8409 (21-DMA), and any break below will take it till 6.8305.
