FxWirePro: USD/DKK hits 2-1/2 week peak, intraday bias bullish
Thursday, April 23, 2020 8:53 AM UTC
- The Danish Krone plunged to a 2-1/2 week low as investors continued to digest downbeat consumer confidence index figures.
- Data released yesterday showed Denmark's consumer confidence index declined sharply to -11.9 in April from 0.4 in the previous month, its lowest reading since December 2008.
- USD/DKK is trading 0.3 percent higher at 6.9112, having hit high of 6.9162 earlier, its highest since Apr. 7.
- On Wednesday, the pair broke above minor resistance 6.9000 level but closed 0.3 percent up at 6.8881.
- 5-DMA is now acting minor support, major support at 21-EMA.
- Immediate resistance is located at 6.9226, close above could take it till 6.9337.
- On the downside, support is seen at 6.8723 (5-DMA), and any break below will take it till 6.8568.