FxWirePro: USD/DKK hovers towards 1-week low, faces strong resistance at 21-EMA
Monday, July 6, 2020 9:52 AM UTC
- The Danish Krone surged, hovering towards a 1-week peak hit last week as the greenback declined against a basket of currencies.
- The dollar index eased as investors awaited data expected to show the U.S. services sector stopped contracting.
- The Institute for Supply Management’s index for non-manufacturing activity due later in the day is expected to rise to 50.0 in June from 45.4 in the previous month.
- USD/DKK is trading 0.4 percent down at 6.6017, having hit low of 6.5922 on Thursday, its lowest since June 24.
- Immediate resistance is located at 6.6435 (21-EMA), close above could take it till 6.6630.
- On the downside, support is seen at 6.5797 and any break below will take it till 6.5604.