US dollar: daily bias remains bullish

Congress building
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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