FxWirePro: USD/DKK halts 2-day losing streak, struggles to break below 200-DMA
Wednesday, May 27, 2020 8:52 AM UTC
- The Danish Krone nudged lower after rising for two consecutive sessions as the greenback rebounded across the board.
- The dollar index steadied amid growing worries about the U.S. response to China’s proposed security law and renewed protests in Hong Kong.
- USD/DKK is trading 0.1 percent up at 6.8013, having hit low of 6.7732 on Thursday, its lowest since May 1.
- On Tuesday, the pair fell as low as 6.7834 but found strong support at 200-DMA.
- Immediate resistance is located at 6.8155 (5-DMA), close above could take it till 6.8266 (7-EMA).
- On the downside, support is seen at 6.7822 (200-DMA), and any break below will take it till 6.7730.