FxWirePro: USD/DKK rallies to 1-week peak, struggles to sustain gains above 21-EMA
The Danish Krone slumped to a 1-week low as the dollar index surged against a basket of currencies. The greenback rose to a near 1-week peak after data released yesterday showed U.S. private employers hired fewer workers…
The Danish Krone slumped to a 1-week low as the dollar index surged against a basket of currencies.
The greenback rose to a near 1-week peak after data released yesterday showed U.S. private employers hired fewer workers than expected for a second straight month in August, suggesting that the labor market recovery was slowing.
Meanwhile, separate report showed factory orders rose more than expected in July, indicating continued improvement in the manufacturing sector.
USD/DKK is trading 0.2 percent higher at 6.2883, having hit low of 6.1967 on Monday, its lowest since May 2018.
The pair rose as high as 6.3117 earlier in the session but struggles to sustain gains above 21-EMA.
Immediate resistance is located at 6.3272, close above could take it till 6.3442.
On the downside, support is seen at 6.2620 (5-DMA) and any break below will take it till 6.2404.
