DXY technical analysis: DXY manifests bullish momentum domination in short-term outlook
As the indicators on the daily chart reflect, the DXY indicates a positive inclination with a favorable tilt on the Relative Strength Index (RSI). The RSI is currently exhibiting a positive slope in positive territory, which echoes the bullish force’s dominance over selling pressure in the immediate scenario. Meanwhile, the Moving Average Convergence Divergence (MACD), despite having flat green bars, still supports the bullish prospects.
Furthermore, the index position concerning its Simple Moving Averages (SMAs) further corroborates this assertion. The DXY positioning above the 20, 100, and 200-day Simple Moving Averages (SMAs) suggests the bulls are asserting their control. As long as the index remains above these levels, the buyers have reason to remain optimistic
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