FxWirePro: USD/DKK hits 1-week peak, struggles to break above 21-DMA
Monday, May 25, 2020 9:25 AM UTC
- The Danish Krone plunged to a 1-week low as the greenback surged across the board.
- The dollar rallied amid growing worries about a standoff between the United States and China over civil liberties in Hong Kong.
- USD/DKK is trading 0.05 percent up at 6.8451, having hit low of 6.7732 on Thursday, its lowest since May 1.
- The pair rose as high as 6.8599 earlier in the session but faces strong resistance at 21-DMA.
- Immediate resistance is located at 6.8617 (21-DMA), close above could take it till 6.8733.
- On the downside, support is seen at 6.8228, and any break below will take it till 6.8102.