FxWirePro: USD/DKK drifts towards 3-month low, likely to break below 6.5225
The Danish Krone surged, extending gains for the fourth straight session as Denmark relaxed position on European Union recovery plan. Denmark has eased its position on the EU's economic recovery plan after the pandemic a…
The Danish Krone surged, extending gains for the fourth straight session as Denmark relaxed position on European Union recovery plan.
Denmark has eased its position on the EU's economic recovery plan after the pandemic ahead of EU leaders meeting to be held online next week.
Denmark along with Austria, Sweden and the Netherlands had opposed grants as opposed to loans under the recovery fund, and also insisted on a 7-year EU budget not exceeding 1.0 percent of the blocs gross national income.
USD/DKK is trading 0.1 percent down at 6.5455 having hit low of 6.5266 the day before, its lowest since March 10.
On Wednesday, the pair fell to 3-month low but retraced to close at 6.5458
Immediate resistance is located at 6.6080 (7-EMA), close above could take it till 6.6356 (10-DMA).
On the downside, support is seen at 6.5225 and any break below will take it till 6.5159.
