The US Dollar Index (DXY) on Monday pulled back off yearly highs of about 90.95 to trade at around 90.76 ahead of President-elect Joe Biden’s inauguration ceremony. The USDX appears to be trading within an ascending wedge formation in the 60-min chart. It remains several levels above the 100-hour and the 200-hour SMA lines. The latest pullback pushed the US dollar currency index back to the normal trading zone of the 14-hour RSI, off overbought levels.The US Dollar Index Fundamentals Overview: From a fundamental perspective, the US dollar index is trading ahead of a relatively quiet trading period in the US market. … (full story)
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