The US. Dollar Currency Index (DXY) is trading above its 200 day moving average for the first time since March of last year. Last time it pushed above this resistance, it rallied an additional 5.4%. If a similar trend is repeated, it could spell bad news for equities and crypto.
Other things to note are the average directional index (ADX) > 25.00, which means the uptrend is strong; and the bullish MACD. The RSI is near overbought territory (not depicted in chart).
Other things to note are the average directional index (ADX) > 25.00, which means the uptrend is strong; and the bullish MACD. The RSI is near overbought territory (not depicted in chart).
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