DXY technical analysis: DXY grapples with slight selling pressure, overall bullish sentiment remains
In the DXY technical landscape, the Relative Strength Index (RSI), although on a negative slope, is still situated in positive territory, implying a stalling upward momentum. However, the recent decrease in green bars on the Moving Average Convergence Divergence (MACD) histogram echoes a similar sentiment, suggesting a subtle shift in the dynamics from buying to selling pressure.
Still, on an encouraging note, the index continues to trade above the critical support levels dictated by its 20, 100, and 200-day Simple Moving Averages (SMAs). Despite a short-term negative outlook, this notably upbeat stance suggests that the bulls are still in control over the longer horizon
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