FxWirePro: USD/DKK extends gains, struggles to break above 21-EMA
Tuesday, October 13, 2020 12:36 PM UTC
- The Danish Krone declined, extending previous session losses as the greenback surged against a basket of currencies.
- The dollar index surged as a widening lead by Democratic presidential candidate Joe Biden over President Donald Trump is leading investors to expect big stimulus after the election.
- USD/DKK is trading 0.2 percent higher at 6.3099, having hit low of 6.2897 on Friday, its lowest since September 21.
- Immediate resistance is located at 6.3295 (21-DMA), close above could take it till 6.3561 (55-EMA).
- On the downside, support is seen at 6.2913 and any break below will take it till 6.2770.