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FxWirePro: USD/DKK reverses previous session gains, faces resistance at 55-EMA

  • The Danish Krone rose, reversing most of its previous session losses, as the greenback eased against a basket of currencies. 
     
  • The dollar index declined amid growing expectations that U.S. Congress will pass a stimulus package to support the pandemic-stricken economy ahead of the presidential election in November. 
     
  • The greenback against a basket of currencies traded 0.2 percent down at 93.64, having touched a low of 93.53 on Thursday, its lowest since September 22.
     
  • USD/DKK is trading 0.4 percent lower at 6.3314, having hit low of 6.3228 on Thursday, its lowest since September 22.
     
  • The pair rose to a high of 6.3591 earlier in the session, but found strong resistance at 55-EMA.
     
  • Immediate resistance is located at 6.3650, close above could take it till 6.3844. 
     
  • On the downside, support is seen at 6.3204 and any break below will take it till 6.3003. 
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