Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/DKK halts 4-day rally, struggles to break below 200-DMA

  • The Danish Krone nudged down, retreating from a near 3-week peak hit in the prior session as the greenback rebounded from recent lows.
     
  • The dollar index rebounded from 2-1/2 week trough as Sino-U.S. tensions and weak economic indicators in Europe dented sentiment. 
     
  • However, the upside in the pair appears limited as markets continued to digest Denmark's better-than-expected consumer confidence figures released yesterday. 
     
  • USD/DKK is trading 0.2 percent up at 6.8008, having hit low of 6.7790 the day before, its lowest since May 1.
     
  • On Wednesday, the pair tumbled to a near 3-week low but found strong support at 200-DMA and retraced to close 0.5 percent lower at 6.7910
     
  • Immediate resistance is located at  6.8240, close above could take it till 6.8447 (55-EMA). 
     
  • On the downside, support is seen at 6.7798 (200-DMA), and any break below will take it till 6.7659. 
  • Market Data
Close

Welcome to EconoTimes

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