As shown in the first chart below, the US Dollar has moved well above the top of its trading range over the past few days. This move higher has come at the expense of most other currencies with the exception of the Japanese Yen. The Australian Dollar (NYSEARCA:FXA), Canadian Dollar (NYSEARCA:FXC), British Pound (NYSEARCA:FXB), and Mexican Peso (NYSEARCA:FXM) have really taken it on the chin over the past two days, moving much more than two standard deviations below their 50-day moving averages. Talk about a free fall.
(Click charts to enlarge)