Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: Danish Krone consolidates within ranges as economy shrinks in Q1 

  • The Danish Krone consolidated within narrow ranges following soft gross domestic product data.
     
  • Denmark’s gross domestic product shrank 1.9 percent on quarter in the three months to March, following a 0.6 percent advance in the previous period, its first contraction in GDP since the third quarter 2017.
     
  • Moreover, a rally in the greenback dented the bid tone around the Danish currency. 
     
  • USD/DKK is trading flat at 6.8964, having hit low of 6.8423 on Wednesday, its lowest since May 5.
     
  • Immediate resistance is located at  6.9209, close above could take it till 6.9316. 
     
  • On the downside, support is seen at 6.8870, and any break below will take it till 6.8769 (10-DMA).
  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.