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FxWirePro: USD/DKK hits 2-1/2 week peak, intraday bias bullish

  • 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.
  • Market Data
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