DXY technical analysis: DXY bullish as momentum indicators favor buyers, correction likely
The indicators on the daily chart reflect a favorable buying momentum. The Relative Strength Index (RSI), with its positive slope and placement in positive territory, suggests that bulls are gaining ground in the currency price action. However, the RSI stands now in overbought terrain, which may hint that a correction is incoming.
Meanwhile, the Moving Average Convergence Divergence (MACD) also supports this bullish view as the green bars on the histogram show an upward trajectory, indicating that buyers are in control
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