FxWirePro: USD/DKK jumps to an over 2-year peak, but struggles to hold above 6.9000
Friday, February 14, 2020 10:53 AM UTC
- The Danish Krone nudged higher, pulling away from multi-year trough hit earlier in the session on investors continued to digest upbeat GDP growth figures.
- A flash estimate showed Denmark’s gross domestic product grew 0.3 percent on quarter in the three months to December, following a 0.4 percent advance in the previous period
- USD/DKK is trading 0.1 percent down at 6.8869, having hit high of 6.9007, its highest since April 2017
- Momentum indicators are bullish - RSI strong at 74, MACD supports upside and Stochs are at overbought levels
- Immediate resistance is located at 6.9054, close above could take it till 6.9088.
- On the downside, support is seen at 6.8772, and any break below will take it till 6.8622.