We haven't checked in on the currency markets lately, so below we highlight price charts for a number of currency ETFs. The only currency that has been in a continous downtrend over the past 6 months is Mexico's Peso (FXM), and who knows when this downtrend will end. The Australian Dollar (FXA) and Canadian Dollar (FXC) have both been able to remain above their November lows over the past few months, forming a U-shaped bottom.
The British Pound (FXB) was in the same boat as the Peso until it recently broke above its 50-day moving average to give it life again. But it quickly pulled back below its 50-day, so the jury is still out on whether or not a bottom has been made.
After suffering a severe pullback following its multi-month rally, the US Dollar has found its footing again, but it has struggled to test its '08 highs recently and has been trading sideways. This sideways trading is paving the way for a big move once it finally breaks in one direction.
And finally, the Japanese Yen (FXY) has been trading in a long-term uptrend until it recently broke below its 50-day. This sure looks like a sign that the Yen could be in store for a protracted pullback, at least based on technicals.