FxWirePro: Danish Krone rallies to 4-week peak as current account surplus increases
Thursday, July 9, 2020 9:58 AM UTC
- The Danish Krone surged to a 4-week peak following the release of upbeat economic data.
- Denmark's current account surplus rose to DKK 17.4 billion in May from DKK 15.0 billion in the previous month.
- Separate data showed the country's trade surplus increased to DKK 8.1 billion in May from DKK 6.7 billion in April.
- USD/DKK is trading 0.05 down at 6.5770, having hit low of 6.5511 earlier, its lowest since June 11.
- Immediate resistance is located at 6.6054 (7-EMA), close above could take it till 6.6200 (10-DMA).
- On the downside, support is seen at 6.5368 and any break below will take it till 6.5225.