FxWirePro: USD/DKK retreats from near 2 year low, finds support at 6.4000
The Danish Krone eased from a near 2 year peak hit in the prior session as the greenback rebounded from recent lows. The dollar index bounced back from an over 4-month low as traders watched flash Purchasing Managers’ In…
The Danish Krone eased from a near 2 year peak hit in the prior session as the greenback rebounded from recent lows.
The dollar index bounced back from an over 4-month low as traders watched flash Purchasing Managers’ Index (PMI) readings for July across major developed economies.
Markets also focus on the next U.S. fiscal rescue package, which is deadlocked in Congress with some unemployment benefits due to expire at the end of the month.
The downside in the Danish currency appears limited as Denmark's consumer confidence index increased to -2.9 in July from -3.1 in June, its strongest reading since March.
USD/DKK is trading 0.1 up at 6.4271, having hit low of 6.4011 the day before, its lowest since September 2018.
Immediate resistance is located at 6.4645 (5-DMA), close above could take it till 6.4755 (7-DMA).
On the downside, support is seen at 6.4010 and any break below will take it till 6.3911.
