DXY technical analysis: DXY bears recede, bulls gain control
The technical indicators on the daily chart reflect an increasing buying momentum for DXY. The Relative Strength Index (RSI) is in positive territory and exhibits a positive slope, which is generally known as a bullish signal. Furthermore, the Moving Average Convergence Divergence (MACD) indicators display rising green bars, amplifying the emphasis on bullish momentum.
Additionally, the index position above the 20, 100, and 200-day Simple Moving Averages (SMAs) adds arguments for a positive technical outlook for the USD
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