US dollar: daily bias remains bullish
Jean-Christophe Rolland November 4, 2020 7:37 PM
The technical view is still positive as U.S election still unclear
Dollar index is volatile on an intraday basis as both Biden and Trump sides claimed confidence in their win.
From a technical point of view, on a daily chart, the dollar index remains well oriented after having broken a declining trend line drawn since late July. Prices trade above their flat 50-day moving average while the RSI is above its neutrality area at 50. As long as the 92.50 support is not broken, readers may therefore consider further upside. A clear breakout of the 94.00 resistance would lead the way to 94.75.
Source: TradingView, GAIN Capital
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