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FxWirePro: USD/DKK at 1-week peak, likely to continue bullish momentum

  • The Danish Krone plunged to an over 1-week low as the greenback surged against a basket of currencies. 
     
  • The greenback index is on course for a near 2.6 percent gain over the week as the U.S. Federal Reserve flooded the market with liquidity.
     
  • On Thursday, the pair broke above major resistance 10-DMA, to close 1.01 percent up at 6.8772. 
     
  • USD/DKK is trading 0.5 percent up at 6.9104, having hit low of 6.6950 last week, its lowest since Mar. 17.
     
  • Momentum indicators are bullish, likely to break above 6.9250. 
     
  • Immediate resistance is located at  6.9440, close above could take it till 6.9642.
     
  • On the downside, support is seen at 6.8642, and any break below will take it till 6.8386 (38.% Fib).
  • Market Data
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