DXY technical outlook: Bias remains bearish but showing signs of stabilization
DXY's technical outlook remains bearish, despite some indications of stabilization. The index is positioned below the 20, 100 and 200-day Simple Moving Averages (SMAs), confirming the established bearish bias. Momentum-based indicators such as the Relative Strength Index (RSI) is now hovering around 40, showing signs of stability despite persisting selling pressure.
The Moving Average Convergence Divergence (MACD) also demonstrates red bars that have stabilized deep in the negative region. Though there is a notable shift in momentum, the overall technical narrative does not project a significant bullish rebound just yet.
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