DXY technical analysis: DXY displays bullish momentum, trims Wednesday’s losses
The technical outlook for DXY reflects a recovering bullish momentum. This viewpoint is primarily driven by the rising slope and positive territory of the Relative Strength Index (RSI), which signals increasing buying pressure. In addition, the augmentation of green bars in the histogram of the Moving Average Convergence Divergence (MACD) signifies that buying momentum is mounting.
In addition, the index recovered above the convergence of the 20, 100, and 200-day Simple Moving Averages (SMAs), further reinforcing a resilient bullish traction. If the DXY manages to stay above the 103.50-70 area, the outlook will be bright for the DXY
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