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FxWirePro: USD/DKK consolidates within tight ranges amid coronavirus worries

  • 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. 
  • Market Data
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