UUP Prepping for the Next Leg Up?

It apears that way and if successful, this is the most important price level for UUP in weeks and could have some major implications for a more solid footing and advance.

 The intraday trend. There's nothing wrong with this picture, a simple intraday pullback.

 The start of 1 min accumulation near the lows and in a lateral trend.

If UUP can close above the white trendline, then it has broken resistance and will be set to change a few of the trends in the short and sub-intermediate terms. Remember that historically the dollar has an inverse relationship with equities and most commodities including precious metals. So whether you trade UUP or not, it's a useful ETF to keep an eye on for broader market implications.