FxWirePro: USD/DKK retreats from 1-week peak, major support at 200-DMA
Tuesday, May 26, 2020 9:46 AM UTC
- The Danish Krone rose, retreating from a 1-week low hit in the prior session as the greenback declined across the board.
- The dollar index plunged by more than 0.5 percent amid growing optimism about a global recovery from the COVID-19 pandemic.
- USD/DKK is trading 0.6 percent down at 6.8004, having hit low of 6.7732 on Thursday, its lowest since May 1.
- On Monday, the pair rose as high as 6.8599 but found strong resistance at 21-DMA.
- Immediate resistance is located at 6.8523 (21-EMA), close above could take it till 6.8671.
- On the downside, support is seen at 6.7919 (200-DMA), and any break below will take it till 6.7730.