Relative stability in the US, both on economic and political fronts, is getting USD bulls all revved up. USD/CAD, USD/JPY and cable have been leading the USD charge and last night there were the ominous reports of big macros buying USD/CHF. If we hear that the Middle East Sovereigns are also starting to buy USD again, then we will know that the bull train is really on track.
One really massive level to watch is $1525 in Gold. There are reports of huge trailing stops below $1515 from leveraged funds and if they go off, we could fall into a black hole. Such an event would probably see AUD/USD well back below 1.0000 and USD/CHF heading quickly towards 1.0000.