FxWirePro: USD/DKK at 1-month low, dip till 6.2675 likely
Wednesday, October 21, 2020 10:58 AM UTC
- The Danish Krone advanced to a 1-month peak as the greenback slumped against a basket of currencies.
- The dollar index plunged to a 1- 1/2 month low as investors awaited the outcome of the fiscal stimulus.
- The White House and Democrats in the U.S. Congress moved closer to agreement on a new coronavirus relief package as President Donald Trump said he was willing to accept a large aid bill despite opposition from his own Republican Party.
- The greenback against a basket of currencies traded 0.3 percent down at 92.73, having touched a low of 92.68 earlier, its lowest since September 4.
- USD/DKK is trading 0.3 percent lower at 6.2775, having hit low of 6.2698 earlier, its lowest since September 21.
- Immediate resistance is located at 6.3132, close above could take it till 6.3281 (21-EMA).
- On the downside, support is seen at 6.2675 and any break below will take it till 6.2513.