DXY Technical Outlook: Bearish attitude steady while bulls make a stride to recover the 200-day SMA
The outlook for the USD remains bearish despite the DXY index regaining the 200-day Simple Moving Average (SMA). Technical indicators such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) are both deep in negative terrain, suggesting it’s the seller's time now.
Despite losing more than 0.80% towards the end of last week, a slight upward correction may occur. Nonetheless, the bullish momentum gained on Tuesday is fragile, making the overall technical outlook decidedly bearish
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