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FxWirePro: Danish Krone hovers towards 4-week peak as consumer prices surge in June 

  • The Danish Krone nudged higher, hovering towards a 4-week peak hit in the prior session following the release of upbeat inflation figures.
     
  • Denmark's consumer prices increased 0.3 percent year-on-year in June, after a flat reading in the previous two months, while harmonised consumer prices increased to 102.60 points in June from 102.50 points in May.
     
  • Moreover, weakness in the dollar index supported the upside in the Danish currency. 
     
  • USD/DKK is trading 0.05 down at 6.5951, having hit low of 6.5511 on Thursday, its lowest since June 11.
     
  • The pair rose as high as 6.6193 earlier in the session but found strong resistance at 21-EMA to turn lower. 
     
  • Immediate resistance is located at  6.6273 (21-EMA), close above could take it till 6.6418. 
     
  • On the downside, support is seen at 6.5680 and any break below will take it till 6.5368. 
  • Market Data
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