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FxWirePro: USD/DKK  at over 4-month trough, outlook remains bearish 

  • The Danish Krone rallied to an over 4-month peak as the greenback declined on increasing coronavirus cases in the U.S.
     
  • Three U.S. states reported new record daily deaths from COVID-19, leading many states temporarily halt the reopening of their economies to contain the outbreak
     
  • Federal Reserve officials warned the U.S. economy faces a longer recovery from the pandemic, and economic pain could still worsen as cases surged across the country.
     
  • USD/DKK is trading 0.4 down at 6.5078, having hit low of 6.5053 earlier, its lowest since March 9.
     
  • Immediate resistance is located at  6.5760 (7-EMA), close above could take it till 6.5932 (10-DMA). 
     
  • On the downside, support is seen at 6.4994 / 6.4906  and any break below will take it till 6.4745. 
  • Market Data
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