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- The Danish Krone rallied, extending gains for the third straight session as the greenback plunged to a 1-week trough against a basket of currencies.
- The dollar slumped as several countries laid out plans to ease restrictions on businesses that have been closed due to the novel coronavirus outbreak, reducing demand for the safe-haven U.S. currency.
- USD/DKK is trading 0.2 percent lower at 6.8700, having hit high of 6.9519 on Friday, its highest since Mar. 24.
- Immediate resistance is located at 6.8998, close above could take it till 6.9138.
- On the downside, support is seen at 6.8585 (21-EMA), and any break below will take it till 6.8464.
Recommendation: Good to sell on rallies around 6.8825, with stop loss of 6.8998 and target price of 6.8585.
