Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/DKK hovers towards 2-year low, dip till 6.2830 likely

  • The Danish Krone surged, extending previous session gains as the greenback eased across the board. 
     
  • The dollar index tumbled as the latest coronavirus relief package stalled in Congress. 
     
  • However, the upside in theDanish currency appears limited following the release of soft economic data.
     
  • Denmark's foreign exchange reserves decreased to 455600 DKK million in July from 455800 DKK million in June. 
     
  • USD/DKK is trading 0.3 percent down at 6.2953, having hit low of 6.2509 on Thursday, its lowest since May 2018.
     
  • The pair faces major resistance at 10-DMA. 
     
  • Immediate resistance is located at  6.3359 (7-EMA), close above could take it till 6.3479 (10-DMA). 
     
  • On the downside, support is seen at 6.2830 and any break below will take it till 6.2510. 
  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.