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FxWirePro: USD/DKK off 1-month peak, finds support at 7-EMA 

  • The Danish Krone rose, retreating from a 1-month low recorded in the prior session as the greenback eased against a basket of currencies. 
     
  • The dollar index plunged and is still down about 9 percent from its March highs and on track for its worst year since 2017, weighed down by expectations that U.S. rates will remain near historic lows for years to come.
     
  • Investors now await the outcome of Tuesday’s U.S. presidential election.
     
  • USD/DKK is trading 0.4 percent lower at 6.3691, having hit high of 6.4066 on Monday, its highest since September 28.
     
  • Immediate resistance is located at 6.4102, close above could take it till 6.4275. 
     
  • On the downside, support is seen at 6.3572 (7-EMA) and any break below will take it till 6.3463 (55-EMA). 
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