FxWirePro: USD/DKK hovers towards 1-month low, outlook remains bearish
Tuesday, July 14, 2020 10:40 AM UTC
- The Danish Krone surged, hovering towards a 1-month peak hit in the prior session as the greenback eased amid rising coronavirus cases in the U.S.
- California rollbacks reopening after Governor Gavin Newsom ordered bars closed and restaurants and movie theatres to cease indoor operations.
- USD/DKK is trading 0.1 down at 6.5552, having hit low of 6.5442 the day before, its lowest since June 11.
- On Monday, the pair fell to a 1-month low but retraced to close 0.4 percent lower at 6.5623.
- Immediate resistance is located at 6.5909 (7-EMA), close above could take it till 6.6035 (10-DMA).
- On the downside, support is seen at 6.5368 and any break below will take it till 6.5266.