The DXY’s hourly chart shows a bearish RSI pattern. A minor drop to the 50-hour SMA support may be seen. The dollar index (DXY), which tracks the greenback’s value against majors, has retreated from the session high of 92.50 to 92.40. The pullback may be extended further as the hourly chart Relative Strength Index (RSI) shows a bearish divergence. It occurs when an indicator charts lower highs contradicting higher highs on the price chart and often paves the way for pullbacks. The DXY may test the 50-hour Simple Moving Average support, currently at 92.07. The broader outlook would remain bullish while the former hurdle-turned-support of 91.60 (Feb. 5 high) is intact. The DXY rose for the fourth straight trading day on Monday as the Treasury yields remained elevated, helping the greenback draw bids in the wake of the US Senate’s decision to approve President Joe Biden’s $1.9 trillion stimulus program. Daily chart Trend: Minor pullback likely Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next UK retail sales return to growth amid economic reopening optimism – BRC FX Street 1 year The DXY's hourly chart shows a bearish RSI pattern. A minor drop to the 50-hour SMA support may be seen. The dollar index (DXY), which tracks the greenback's value against majors, has retreated from the session high of 92.50 to 92.40. The pullback may be extended further as the hourly chart Relative Strength Index (RSI) shows a bearish divergence. It occurs when an indicator charts lower highs contradicting higher highs on the price chart and often paves the way for pullbacks. The DXY may test the 50-hour Simple Moving Average support, currently at 92.07. The broader… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
