FxWirePro: USD/DKK extends gains, likely to break above 6.9440
The Danish Krone declined, extending losses for the sixth straight session, on soft industrial production figures. Denmark's industrial production declined 1.2 percent year-on-year in February, following an upwardly revi…
The Danish Krone declined, extending losses for the sixth straight session, on soft industrial production figures.
Denmark's industrial production declined 1.2 percent year-on-year in February, following an upwardly revised 5.4 percent fall in the previous month, its fourth straight month of decline in output.
On Friday, the pair rallied to a 1-1/2 week peak to close 3.2 percent higher for the week.
USD/DKK is trading 0.2 percent up at 6.9254, having hit high of 6.6352 last week, its highest since Mar. 25.
Momentum indicators are bullish, likely to break above 6.9440.
Immediate resistance is located at 6.9385, close above could take it till 6.9642.
On the downside, support is seen at 6.8861, and any break below will take it till 6.8763 (23.6% Fib).
