FxWirePro: USD/DKK retreats from 2-week trough, intraday bias bullish
The Danish Krone declined from a 2-week high as the country requires $37 billion through July as crisis spreads. According to an analysis published by the central bank, Denmark needs 250 billion kroner ($37 billion) betw…
The Danish Krone declined from a 2-week high as the country requires $37 billion through July as crisis spreads.
According to an analysis published by the central bank, Denmark needs 250 billion kroner ($37 billion) between April and the end of July to help pay for the economic fallout of Covid-19.
The government has already announced about 300 billion kroner in aid packages as the country entered a second month of lockdown to prevent the virus from spreading.
USD/DKK is trading 0.5 percent up at 6.8282, having hit low of 6.7914 earlier, its lowest since Apr. 1.
The pair fell to a 2-week low earlier in the day but retraced to trade above 21-EMA.
Immediate resistance is located at 6.8394, close above could take it till 6.8520 (21-DMA).
On the downside, support is seen at 6.7831, and any break below will take it till 6.7705.
