FxWirePro: USD/DKK retreats from 1-week peak, finds strong resistance at 21-EMA
The Danish Krone rose, rebounding from an over 1-week low hit in the prior session, as the greenback eased against a basket of currencies. The dollar index nudged lower, as the quantitative easing that the Federal Reserv…
The Danish Krone rose, rebounding from an over 1-week low hit in the prior session, as the greenback eased against a basket of currencies.
The dollar index nudged lower, as the quantitative easing that the Federal Reserve deployed so far has flooded financial markets with excess liquidity.
USD/DKK is trading 0.2 percent lower at 6.2990, having hit high of 6.3344 in the previous session, its highest since August 12.
On Friday, the pair rose to an over 1-week peak but found strong resistance at 21-EMA to close at 6.3113.
Immediate resistance is located at 6.3329 (21-EMA), close above could take it till 6.3514.
On the downside, support is seen at 6.2785 (55-EMA) and any break below will take it till 6.2521.
