DXY technical analysis: DXY bulls remain weak with bears around the corner

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The indicators on the daily chart reflect a mixed sentiment in the market. The Relative Strength Index (RSI) has a negative slope but maintains itself in positive territory, indicating that there's uncertainty among the market participants and a lack of a firm directional bias.

In addition, there may be a hint of bearish momentum as the Moving Average Convergence Divergence (MACD) indicator shows decreasing green bars, signifying a possible slowdown in the buying power. This could mean that the bears are slowly gaining the upper hand. However, the DXY is positioned above its 20, 100 and 200-day Simple Moving Averages (SMAs), insinuating an underlying bullish sentiment


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