FxWirePro: USD/DKK finds support at 21-EMA, likely to break above 6.9000
Wednesday, April 8, 2020 8:57 AM UTC
- The Danish Krone eased, reversing some of its previous session gains as the greenback firmed against a basket of currencies.
- On Tuesday, the pair retreated from a 1-1/2 week peak hit earlier in the week, to close 0.9 percent down at 6.8524.
- USD/DKK is trading 0.3 percent up at 6.8762, having hit high of 6.9337 on Monday, its highest since Mar. 25.
- Momentum indicators are bullish on hourly charts.
- Immediate resistance is located at 6.9009, close above could take it till 6.9262.
- On the downside, support is seen at 6.8424 (38.2% Fib), and any break below will take it till 6.8253 (21-EMA).