USD index gearing up to breakout higher?U.S. Dollar Currency IndexTVC:DXYFPMarketsFed-tightening expectations and safe-haven demand have underpinned the USD so far this month, pushing the USD index up by 2.8%. As shown in the charts below, monthly price action suggests scope for further outperformance as buyers strengthen their grip above resistance at 99.67. The 50-month SMA at 103.03 calls for attention overhead, with a break above this level unearthing resistance at 107.35. Meanwhile, on the daily chart, price recently touched gloves with resistance at 101.78. Interestingly, breaching this resistance could open the door to another layer of resistance at 102.99, a base set just south of the 50-month SMA mentioned above. So, we have room to push higher on the monthly, and a break of daily resistance at 101.78 could trigger breakout buyers. Written by FP Markets Chief Market Analyst Aaron Hill