FxWirePro: USD/DKK fails to break above 6.9000, finds resistance at 5-DMA
Thursday, April 9, 2020 9:34 AM UTC
- The Danish Krone nudged up, reversing some of its previous session losses as the greenback weakened against a basket of currencies.
- On Wednesday, New York State reported the most coronavirus cases in the world, overtaking Spain, according to a Reuters tally.
- USD/DKK is trading 0.1 percent down at 6.8651, having hit high of 6.9337 on Monday, its highest since Mar. 25.
- Momentum indicators are turning bearish on hourly charts.
- Immediate resistance is located at 6.8872 (5-DMA), close above could take it till 6.9009.
- On the downside, support is seen at 6.8424 (38.2% Fib), and any break below will take it till 6.8296 (21-EMA).