FxWirePro: USD/DKK halts 2-day losing streak, struggles to break above 21-EMA
Tuesday, August 25, 2020 7:46 AM UTC
- The Danish Krone gained, retreating from an over 1-week low hit earlier in the week as the greenback declined against a basket of currencies.
- The dollar index nudged lower following reports that top U.S and Chinese officials see progress being made in resolving concerns around the Phase 1 trade deal reached between the two countries in January.
- USD/DKK is trading 0.3 percent lower at 6.2969, having hit high of 6.3344 on Friday, its highest since August 12.
- Immediate resistance is located at 6.3312 (21-EMA), close above could take it till 6.3514.
- On the downside, support is seen at 6.2774 and any break below will take it till 6.2521.