FxWirePro: USD/DKK hovers towards 1-1/2 week trough, upside capped at 10-DMA
The Danish Krone surged, reversing most of its previous session losses, as the greenback eased across the board. Markets seem to have ignored Denmark's soft economic data, that showed the annual inflation rate declined t…
The Danish Krone surged, reversing most of its previous session losses, as the greenback eased across the board.
Markets seem to have ignored Denmark's soft economic data, that showed the annual inflation rate declined to 0.4 percent in March from 0.8 percent in the previous month, its lowest rate since last August
On Monday, the pair declined to a 1-1/2 week low but found strong support at 55-EMA to close 0.2 percent higher.
USD/DKK is trading 0.3 percent down at 6.8251, having hit low of 6.8058 the day before, its lowest since Apr. 2.
Immediate resistance is located at 6.8568, close above could take it till 6.8643.
On the downside, support is seen at 6.8142, and any break below will take it till 6.8039 (55-EMA).
