FxWirePro: USD/DKK retreats from 1-week peak, faces strong resistance at 21-EMA
Tuesday, August 11, 2020 10:39 AM UTC
- The Danish Krone rebounded from a 1-week trough hit earlier in the session as the greenback eased across the board.
- The dollar index declined following a stalemate in the U.S. Congress over fiscal stimulus.
- Congressional leaders and Trump administration officials said they were ready to resume negotiations on a coronavirus aid deal, however, it was unclear whether they could resolve their differences.
- USD/DKK is trading 0.5 percent lower at 6.3132, having hit high of 6.3514 earlier, its highest since August 4.
- Immediate resistance is located at 6.3670, close above could take it till 6.3892 (21-EMA).
- On the downside, support is seen at 6.3035 and any break below will take it till 6.2802.