• FxWirePro: USD/DKK hits 1-week peak, struggles to break above 21-dma

    Source: FxWire Pro - Technicals / 25 May 2020 10:40:24   Europe/London

    • The Danish Krone plunged to a 1-week low as the greenback surged across the board. 
       
    • The dollar rallied amid growing worries about a standoff between the United States and China over civil liberties in Hong Kong. 
       
    • USD/DKK is trading 0.05 percent up at 6.8451, having hit low of 6.7732 on Thursday, its lowest since May 1.
       
    • The pair rose as high as 6.8599 earlier in the session but faces strong resistance at 21-DMA.
       
    • Immediate resistance is located at  6.8617 (21-DMA), close above could take it till 6.8733. 
       
    • On the downside, support is seen at 6.8228, and any break below will take it till 6.8102. 
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