The USD index is currently a little above 76. Looking at it, I can help but feel that it is ready for another leg down. The risk /reward is not as favorable as one would like, as there is some probability for a correction up to 80. So I would short this with the proper temporal dimensionality in mind, and not over aggressively, and look for the downtrend to resume after the fed meeting.
One has to ask where price action is in relation to the trends time frame…. Is it ahead of itself or behind where it should be in light of the dominant theory. The dominant theory right now is the dollar decline/subprime recession theory, and it is a theory that will continue to grow in strength as we move into the future.