FxWirePro: USD/DKK retreats from near 2-month peak, struggles to sustain gains above 55-EMA
Wednesday, September 23, 2020 9:58 AM UTC
- The Danish Krone nudged higher, retreating from a near 2-month low as the greenback eased from recent peaks.
- The dollar index surged to multi-week peaks earlier in the day after U.S. economic policymakers opened the door to further aid for small businesses hit by the coronavirus, however, it turned lower as they struggled to agree over how broad it might extend and the manner in which it should be delivered.
- The greenback against a basket of currencies traded 0.05 percent down at 93.90, having touched a high of 94.25 earlier, its highest since July 27.
- USD/DKK is trading 0.05 percent lower at 6.3561, having hit high of 6.3764 earlier, its highest since July 27.
- The pair broke above major resistance 55-EMA, but struggled to sustain gains above it.
- Immediate resistance is located at 6.3930, close above could take it till 6.4110.
- On the downside, support is seen at 6.3380 and any break below will take it till 6.3053.