FxWirePro: USD/DKK sustains gains above 55-EMA, jump till 6.3584 likely
Thursday, October 29, 2020 8:55 AM UTC
- The Danish Krone plunged to a 1-1/2 week low as the greenback rallied against a basket of currencies.
- The dollar index held firm near a 1-week peak as escalating coronavirus cases in Europe stoked investor fears that fresh lockdowns would further hit the already fragile economic recovery.
- USD/DKK is trading 0.2 percent higher at 6.3478, having hit high of 6.3517 earlier, its highest since October 19.
- Immediate resistance is located at 6.3584, close above could take it till 6.3646.
- On the downside, support is seen at 6.3165 (21-EMA) and any break below will take it till 6.3031 (5-DMA).