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FxWirePro: USD/DKK retreats from near 3-year peak, investors await Danish consumer confidence 

  • The Danish Krone rebounded from a near 3-year trough as investors await February's consumer confidence data due tomorrow.
     
  • Denmark's consumer confidence index increased to 4.5 in January 2020 from 1.4 in December 2019. 
     
  • USD/DKK is trading 0.1 percent down at 6.9139, having hit high of 6.9262 on Tuesday, 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  6.9265, close above could take it till 6.9305. 
     
  • On the downside, support is seen at 6.9074, and any break below will take it till 6.9007.
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