US Dollar -- At Interesting Point

With the Fed now out of the business of QE, and with sentiment again swinging toward a more
nearly imminent "lift off" in short rates, the dollar is on the rise again to salute a prospective,
more full blooded tightening of policy by the Fed. $USD

What is interesting here is that not only is the dollar overbought in the short run, it has also formed
what could be a secondary top. It made a strong, momentum driven top in the spring, then corrected
moderately, and is now back up to near the 100 level on the index. Sometimes, this sort of process is
merely establishing a platform for a breakout move, and sometimes it signals that the index in
question is running out of gas and is setting up for what may eventually turn out to be a stronger
correction from what is becoming more formidable resistance. Check out the price action for
the USD over 2012 - 2013.