FxWirePro: USD/DKK rebounds from 2-year low, next hurdle at 21-DMA
The Danish Krone declined, retreating from an over 2-year peak recorded in the prior session as the dollar index bounced back from recent lows. The greenback rebounded from an over 2-year low as U.S. data pointed to a fi…
The Danish Krone declined, retreating from an over 2-year peak recorded in the prior session as the dollar index bounced back from recent lows.
The greenback rebounded from an over 2-year low as U.S. data pointed to a firm manufacturing activity, with the reading from the Institute for Supply Management highest level since November 2018.
The dollar against a basket of currencies has been declining since last week after the Fed announced it would focus more on average inflation and higher employment.
USD/DKK is trading 0.3 percent higher at 6.2700, having hit low of 6.1967 on Tuesday, its lowest since May 2018.
Immediate resistance is located at 6.2907 (21-DMA), close above could take it till 6.3027 (21-EMA).
On the downside, support is seen at 6.2359 and any break below will take it till 6.2203.
