FxWirePro: USD/DKK retreats from near 3-year peak, investors await Danish consumer confidence
Wednesday, February 19, 2020 10:28 AM UTC
- 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.