FxWirePro: USD/DKK retreats from 1-month low, finds support at 6.2700
Thursday, October 22, 2020 11:48 AM UTC
- The Danish Krone eased from to a 1-month peak as the greenback rebounded against a basket of currencies.
- The dollar index steadied against its rival currencies after doubts emerged whether an agreement on a new U.S. fiscal coronavirus aid package could be reached before the election.
- Markets appear to have ignored upbeat economic data, that showed Denmark's consumer confidence index increased to -6.2 in October from -7.4 in September, due to an improvement in expectations regarding households' financial situation.
- USD/DKK is trading 0.3 percent higher at 6.2941, having hit low of 6.2638 on Wednesday, its lowest since September 16.
- Immediate resistance is located at 6.3123 (7-EMA), close above could take it till 6.3232 (21-EMA).
- On the downside, support is seen at 6.2611 and any break below will take it till 6.2513.