Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/DKK hits 1-1/2 week trough, dip till 6.2690 likely 

  • The Danish Krone rallied to an over 1-week peak as the greenback eased against a basket of currencies. 
     
  • The dollar index declined as caution crept in ahead of the release of U.S. Federal Reserve minutes later this week. 
     
  • Markets speculate the Fed will adopt an average inflation target, which would seek to push inflation above 2 percent for some time to make up for the years it has run below it. 
     
  • USD/DKK is trading 0.05 percent lower at 6.2890, having hit low of 6.2749 earlier, its lowest since August 7.
     
  • Techincal indicators point bearish momentum.
     
  • Immediate resistance is located at  6.3116 (7-EMA), close above could take it till 6.3359. 
     
  • On the downside, support is seen at 6.2690 and any break below will take it till 6.2509. 
  • Market Data
Close

Welcome to EconoTimes

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