Ella 
Looking at the performance of the U.S. Dollar Index so far this year, the U.S. dollar is up nearly 5.0% against a basket of six major currencies. The picture remains positive for the U.S. dollar after bulls strengthened the U.S. dollar index, which hit a monthly high of 107.35, its highest since October 2023. This is reinforced by the RSI rebounding off the 50.00 midline on the monthly chart, which is reinforced by the daily chart showing price action retesting and holding support at 105.76. Investors will also note a potential bullish signal brewing between $106.52 and $105.74.
The above suggests that buyers are likely to continue to control the market this week, and this will be even more true if a breakout pattern emerges. Upside target is resistance between $106.89 and $106.79 on the daily chart, immediately following the October 2023 high highlighted above.
