Technical analysts argue that momentum could pick up after breaching the resistance level, with a new target of around 81.32 to 81.38, or another 0.8% increase from current levels.
The PowerShares DB U.S. Dollar Index Bullish Fund tracks the price movement of the U.S. dollar against a basket of currencies, including the euro, Japanese yen, British pound, Canadian dollar, Swedish krona and Swiss franc. [Dollar ETFs Ready to Rally]
Additionally, investors can take a look at an actively managed option, WisdomTree Bloomberg U.S. Dollar Bullish Fund (NYSEArca: USDU), which tracks the USD against developed and emerging market currencies. USDU is up 0.5% Monday, but the fund is down 1.6% year-to-date. [ETFs for the end of ZIRP]
Additionally, for the more aggressive trader, the PowerShares DB 3x Long US Dollar Index Futures ETN (NYSEArca: UUPT) provides a leveraged 300% bullish monthly return to the U.S. dollar futures index. UUPT is up 5.2% Monday and down 3.3% year-to-date.
PowerShares DB U.S. Dollar Index Bullish Fund
For more information on the greenback, visit our U.S. dollar category.