Dollar on the ropes
* The British pound is thisclose to breaking above its multi-year high of 1.9916 from January 23, 2007. If that happens, the 2 dollars for every 1 pound level will almost certainly fall.
* The euro has broken above every level of technical resistance save one – a peak in December 2004 at 1.3666. It’s currently just over a cent below that (1.3533).
* What about the "high yielders" – the Aussie and the Kiwi. Well, AUD has now cleared a level of resistance from December 1996. If it takes out a small peak in 1990, it’ll be at the highest level since early 1989. Meanwhile, if the New Zealand dollar takes out 0.7466, one last level of resistance from March 2005, it’ll be at its highest level since 1982. Guess I won't be going to visit the Lord of the Rings filming sites anytime soon -- it'll be too darn expensive!