FxWirePro: USD/DKK near 1-week peak, faces resistance at 21-DMA
The Danish Krone declined, hovering towards a 1-week low hit in the prior session, following the release of downbeat consumer confidence figures. The Danish consumer confidence index declined to -5.5 in August from -2.9 …
The Danish Krone declined, hovering towards a 1-week low hit in the prior session, following the release of downbeat consumer confidence figures.
The Danish consumer confidence index declined to -5.5 in August from -2.9 in July, recording its weakest reading since May, due to a deterioration in expectations regarding the general economic situation and big purchases climate became more negative.
Moreover, a rebound in the U.S. dollar weakened the bid tone around the Danish currency.
USD/DKK is trading 0.4 percent up at 6.3023, having hit high of 6.3083 the day before, its highest since August 14.
On Thursday, the pair rose as high as 6.2939 but found strong resistance at 21-DMA, turning lower to close at 6.2774.
Immediate resistance is located at 6.3143 (21-DMA), close above could take it till 6.3350 (21-EMA).
On the downside, support is seen at 6.2521 and any break below will take it till 6.2404.
