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FxWirePro: USD/DKK retreats from 1-week peak, major support at 200-DMA

  • 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. 
  • Market Data
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