DXY technical analysis: DXY opens gaps for bulls as bears lose momentum
On the daily chart, the Relative Strength Index (RSI) has a positive slope yet drifts in negative territory, signaling that bulls are slowly building momentum. Coupled with this, the decreasing red bars on the Moving Average Convergence Divergence (MACD) histogram corroborate the growing buying momentum as the sellers lose traction.
Furthermore, the positioning of DXY below its 20,100 and 200-day Simple Moving Averages (SMAs) underscores the embedded bearish outlook. However, if the buyers make a move above the 20-day average at around 103.50, the outlook might shift in favor of the bulls
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