FxWirePro: USD/DKK consolidates within tight ranges amid coronavirus worries
Wednesday, July 8, 2020 9:55 AM UTC
- The Danish Krone consolidated within narrow ranges as investors refrained from taking big positions amid rising coronavirus cases.
- On Tuesday, the Danish currency eased after the European Commission forecast that Denmark's economy will shrink by 5.25 percent this year, before rebounding by 4.3 percent in 2021.
- USD/DKK is trading flat at 6.6097, having hit low of 6.5680 on Monday, its lowest since June 23.
- Immediate resistance is located at 6.6357 (21-EMA), close above could take it till 6.6630.
- On the downside, support is seen at 6.5604 and any break below will take it till 6.5368.