DXY technical outlook: Bearish bias persists, indicators now in oversold region
The DXY outlook turned bearish after the disappointing jobs report last week. The index fell below both the 20-day and 200-day Simple Moving Averages (SMAs). The momentum-based Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) also declined, indicating increasing selling pressure. The RSI below 30, however, indicates that a correction might be looming.
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