FxWirePro: USD/DKK near 1-week peak, outlook bullish
The Danish Krone plunged, hovering towards a near 1-week trough hit in the prior session. On Wednesday, the pair rose as high as 6.8743 but found strong resistance around 6.8745 (trendline 7.0236 and 6.9337) to close 0.6…
The Danish Krone plunged, hovering towards a near 1-week trough hit in the prior session.
On Wednesday, the pair rose as high as 6.8743 but found strong resistance around 6.8745 (trendline 7.0236 and 6.9337) to close 0.6 percent up.
Moroever, news that Denmark needs $37 billion between April and the end of July to help pay for the economic fallout of Covid-19 continued to weigh investor sentiment.
USD/DKK is trading 0.3 percent up at 6.8690, having hit low of 6.7914 in the prior session, its lowest since Apr. 1.
Immediate resistance is located at 6.8728, close above could take it till 6.88851.
On the downside, support is seen at 6.8284 (21-EMA), and any break below will take it till 6.8152.
