FxWirePro: USD/DKK declines below 6.3000, struggles to break above 21-EMA
Wednesday, September 16, 2020 9:32 AM UTC
- The Danish Krone rose, revrsing most of its previous session losses, as the greenback eased against a basket of currencies.
- The dollar index declined on expectations the Federal Reserve will maintain its dovish stance on the U.S. economy as it grapples with the COVID-19 pandemic.
- USD/DKK is trading 0.2 percent lower at 6.2681, having hit low of 6.2435 on Thursday, its lowest since September 2.
- The pair rose to a high of 6.2897 earlier in the session, but faces resistance at 21-EMA.
- Immediate resistance is located at 6.2940 (21-EMA), close above could take it till 6.3050.
- On the downside, support is seen at 6.2513 and any break below will take it till 6.2404.