DXY technical analysis: DXY bears advance as buyers are nowhere to be found

The DXY's technical aspects paint a rather bearish picture. The negative slope and territory of the Relative Strength Index (RSI) indicate weakening buying momentum. Concurrently, the Moving Average Convergence Divergence (MACD) is displaying red bars, a sign that sellers are taking control of the DXY's direction.

In terms of price movement, the currency index stands below its 20,100 and 200-day Simple Moving Averages (SMAs). This position shows a broad-scale bearish outlook, as it typically signals an overall selling trend