Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/DKK consolidates above 21-EMA, investors eye Fed Powell's speech

  • The Danish Krone consolidated within narrow ranges ahead of Federal Reserve Chairman Jerome Powell’s speech on economic issues.
     
  • On Tuesday, U.S. President Donald Trump again pushed the Federal Reserve to adopt negative interest rates.
     
  • Investors await further clues on monetary policy amid rising speculation the United States could adopt negative interest rates.
     
  • USD/DKK is trading flat at 6.8761, having hit high of 6.9291 on Thursday, its highest since Apr. 24.
     
  • The pair broke below minor support 21-EMA in the prior session but retraced to close at 6.8733.
     
  • Immediate resistance is located at  6.9061, close above could take it till 6.9206. 
     
  • On the downside, support is seen at 6.8588, and any break below will take it till 6.8392 (55-EMA).
  • Market Data
Close

Welcome to EconoTimes

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