FxWirePro: USD/DKK steadies near 3-year peak, struggles to sustain above 6.9000
Tuesday, February 18, 2020 11:07 AM UTC
- The Danish Krone slumped to a fresh near 3-year trough earlier in the session.
- USD/DKK is trading flat at 6.8974, having hit high of 6.9031 earlier, its highest since April 2017
- Momentum indicators are bullish - RSI strong at 75, MACD supports upside and Stochs are at overbought levels
- Investors eye Denmak's consumer confidence data for cues on the strength of the economy.
- Immediate resistance is located at 6.9054, close above could take it till 6.9088.
- On the downside, support is seen at 6.8846, and any break below will take it till 6.8786.