FxWirePro: USD/DKK halts 4-day rally, struggles to break below 200-DMA
The Danish Krone nudged down, retreating from a near 3-week peak hit in the prior session as the greenback rebounded from recent lows. The dollar index rebounded from 2-1/2 week trough as Sino-U.S. tensions and weak econ…
The Danish Krone nudged down, retreating from a near 3-week peak hit in the prior session as the greenback rebounded from recent lows.
The dollar index rebounded from 2-1/2 week trough as Sino-U.S. tensions and weak economic indicators in Europe dented sentiment.
However, the upside in the pair appears limited as markets continued to digest Denmark's better-than-expected consumer confidence figures released yesterday.
USD/DKK is trading 0.2 percent up at 6.8008, having hit low of 6.7790 the day before, its lowest since May 1.
On Wednesday, the pair tumbled to a near 3-week low but found strong support at 200-DMA and retraced to close 0.5 percent lower at 6.7910
Immediate resistance is located at 6.8240, close above could take it till 6.8447 (55-EMA).
On the downside, support is seen at 6.7798 (200-DMA), and any break below will take it till 6.7659.
