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FxWirePro: USD/DKK rallies to near 3-year peak on weak Danish consumer confidence

  • The Danish Krone plunged to a fresh near 3-year trough following the release of downbeat consumer confidence data.
  • Denmark's consumer confidence index declined to 3.3 in February from 4.5 in January due to deterioration in expectations regarding the general economic situation and unemployment.
  • USD/DKK is trading 0.2 percent up at 6.9225, having hit high of 6.9297 earlier, its highest since April 2017.
  • Momentum indicators are bullish - RSI strong at 75, MACD supports upside and Stochs are at overbought levels
  • Immediate resistance is located at 6.9305, close above could take it till 6.9333.
  • On the downside, support is seen at 6.9007, and any break below will take it till 6.8884.
  • Market Data
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