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FxWirePro: USD/DKK hovers towards near 2-year low, likely to break below 6.3000 

  • The Danish Krone rose, hovering towards a near 2 year peak hit earlier in the week as the greenback slumped across the board. 
     
  • The dollar index declined as investors cautious waited to hear from the U.S. Federal Reserve.
     
  • The Fed is expected to sound reassuringly accommodative at its policy review later in the day and perhaps open the door to a higher tolerance for inflation.
     
  • USD/DKK is trading 0.3 down at 6.3341, having hit low of 6.3177 on Monday, its lowest since September 2018.
     
  • Immediate resistance is located at  6.3838 (5-DMA), close above could take it till 6.4052 (7-EMA). 
     
  • On the downside, support is seen at 6.2983 and any break below will take it till 6.2750. 
  • Market Data
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