FxWirePro: USD/DKK extends gains for fourth straight session, major resistance at 10-DMA
The Danish Krone slumped, extending losses for the fourth straight session, as the greenback steadied as investors seek safety in liquidity due to the coronavirus pandemic. Yesterday's weaker than expected Denmark's manu…
The Danish Krone slumped, extending losses for the fourth straight session, as the greenback steadied as investors seek safety in liquidity due to the coronavirus pandemic.
Yesterday's weaker than expected Denmark's manufacturing PMI figures continued to weigh on the Danish currency.
Major resistance is seen at 10-DMA, break above 6.8700 could see a trend reversal.
USD/DKK is trading 0.3 percent up at 6.8286, having hit low of 6.6950 on Friday, its lowest since Mar. 17.
Momentum indicators are bullish, likely to break above 6.8400.
Immediate resistance is located at 6.8521 (10-DMA), close above could take it till 6.8735.
On the downside, support is seen at 6.7954 (21-EMA), and any break below will take it till 6.7850 (55-EMA).
