FxWirePro: USD/DKK halts 6-day losing streak, faces resistance at 21-DMA
The Danish Krone declined, halting a 6-day winning streak as the greenback bounced back from recent lows. The dollar index rebounded after the U.S. House of Representatives on Friday approved a $2.2 trillion aid package …
The Danish Krone declined, halting a 6-day winning streak as the greenback bounced back from recent lows.
The dollar index rebounded after the U.S. House of Representatives on Friday approved a $2.2 trillion aid package to curb the economic fallout from the coronavirus pandemic.
Moreover, the Danish currency weakened further after data showed Denmark's manufacturing confidence indicator declined to -7 in March from -4 in the previous month, due to a decrease in both of production expectations and stocks of finished goods.
USD/DKK is trading 0.7 percent up at 6.7444, having hit low of 6.6950 on Friday, its lowest since Mar. 17.
Momentum indicators are turning bullish on hourly charts.
Immediate resistance is located at 6.7551 (21-DMA), close above could take it till 6.7708.
On the downside, support is seen at 6.6880, and any break below will take it till 6.6775.
