FxWirePro: USD/DKK hits 1-month peak, outlook remains bullish
The Danish Krone plunged to a 1-month low as the greenback rallied against the basket of currencies. On Thursday, the U.S. House of Representatives approved a $484 billion coronavirus relief bill, funding small businesse…
The Danish Krone plunged to a 1-month low as the greenback rallied against the basket of currencies.
On Thursday, the U.S. House of Representatives approved a $484 billion coronavirus relief bill, funding small businesses and hospitals and pushing the total spending response to the crisis to an unprecedented near $3 trillion.
USD/DKK is trading 0.2 percent higher at 6.9354, having hit high of 6.9519 earlier, its highest since Mar. 24.
The pair rallied to a 2-1/2 week peak in the prior session but found strong resistance around 6.9345.
Technical indicators show bullish momentum, likely to test 7.000 in the near term.
Immediate resistance is located at 6.9642, close above could take it till 6.9788.
On the downside, support is seen at 6.9033, and any break below will take it till 6.8851.
