FxWirePro: USD/DKK reverses previous session gains, faces resistance at 55-EMA
The Danish Krone rose, reversing most of its previous session losses, as the greenback eased against a basket of currencies. The dollar index declined amid growing expectations that U.S. Congress will pass a stimulus pac…
The Danish Krone rose, reversing most of its previous session losses, as the greenback eased against a basket of currencies.
The dollar index declined amid growing expectations that U.S. Congress will pass a stimulus package to support the pandemic-stricken economy ahead of the presidential election in November.
The greenback against a basket of currencies traded 0.2 percent down at 93.64, having touched a low of 93.53 on Thursday, its lowest since September 22.
USD/DKK is trading 0.4 percent lower at 6.3314, having hit low of 6.3228 on Thursday, its lowest since September 22.
The pair rose to a high of 6.3591 earlier in the session, but found strong resistance at 55-EMA.
Immediate resistance is located at 6.3650, close above could take it till 6.3844.
On the downside, support is seen at 6.3204 and any break below will take it till 6.3003.
