FxWirePro: USD/DKK consolidates within tight ranges amid coronavirus worries
The Danish Krone consolidated within narrow ranges as investors refrained from taking big positions amid rising coronavirus cases. On Tuesday, the Danish currency eased after the European Commission forecast that Denmark…
The Danish Krone consolidated within narrow ranges as investors refrained from taking big positions amid rising coronavirus cases.
On Tuesday, the Danish currency eased after the European Commission forecast that Denmark's economy will shrink by 5.25 percent this year, before rebounding by 4.3 percent in 2021.
USD/DKK is trading flat at 6.6097, having hit low of 6.5680 on Monday, its lowest since June 23.
Immediate resistance is located at 6.6357 (21-EMA), close above could take it till 6.6630.
On the downside, support is seen at 6.5604 and any break below will take it till 6.5368.
