Last Friday the dollar gapped up to reach overhead resistance at the 2010 high. Looking at UUP, the dollar ETF, we see that today, resistance held. The question now is whether it will be able to break out and set a new multi-year high. Looking at the Price Momentum Oscillator (PMO), we see that there was a crossover BUY signal generated last week as the PMO crossed above its 10-EMA which suggests a breakout is imminent.