FxWirePro: USD/DKK rallies to near 3-year peak on weak Danish consumer confidence
Thursday, February 20, 2020 11:40 AM UTC
- The Danish Krone plunged to a fresh near 3-year trough following the release of downbeat consumer confidence data.
- Denmark's consumer confidence index declined to 3.3 in February from 4.5 in January due to deterioration in expectations regarding the general economic situation and unemployment.
- USD/DKK is trading 0.2 percent up at 6.9225, having hit high of 6.9297 earlier, its highest since April 2017.
- Momentum indicators are bullish - RSI strong at 75, MACD supports upside and Stochs are at overbought levels
- Immediate resistance is located at 6.9305, close above could take it till 6.9333.
- On the downside, support is seen at 6.9007, and any break below will take it till 6.8884.