FxWirePro: USD/DKK off 1-month peak, finds support at 7-EMA
The Danish Krone rose, retreating from a 1-month low recorded in the prior session as the greenback eased against a basket of currencies. The dollar index plunged and is still down about 9 percent from its March highs an…
The Danish Krone rose, retreating from a 1-month low recorded in the prior session as the greenback eased against a basket of currencies.
The dollar index plunged and is still down about 9 percent from its March highs and on track for its worst year since 2017, weighed down by expectations that U.S. rates will remain near historic lows for years to come.
Investors now await the outcome of Tuesday’s U.S. presidential election.
USD/DKK is trading 0.4 percent lower at 6.3691, having hit high of 6.4066 on Monday, its highest since September 28.
Immediate resistance is located at 6.4102, close above could take it till 6.4275.
On the downside, support is seen at 6.3572 (7-EMA) and any break below will take it till 6.3463 (55-EMA).
