FxWirePro: USD/DKK near 2 year low, likely to break below 6.4000
Wednesday, July 22, 2020 10:40 AM UTC
- The Danish Krone rallied to a near 2 year peak as the greenback slumped against a basket of currencies.
- The dollar index plunged to an over 4-month low, undermined by concern that Republicans and Democrats are struggling to reach consensus on the next round of U.S. economic stimulus measures.
- USD/DKK is trading 0.4 down at 6.4300, having hit low of 6.4260 earlier, its lowest since October 2018.
- Immediate resistance is located at 6.4891, close above could take it till 6.5075 (5-DMA).
- On the downside, support is seen at 6.4155 and any break below will take it till 6.4010.