We see a not-particularly-neat down-slanting trend channel (green) to an all-time low in April. After that point there's a jump to the top of the channel, and a dance along the top line through mid-Summer. In the last few weeks, the Buck has drifted sideways, with most of this action happening in a new trend channel (purple)
Menzie's post includes an excerpt from a paper by Catherine Mann of Brandies University. She concludes that a variety of factors, including "a long-run chartist view, suggest that the trend dollar depreciation has reached an end."
Well, there's the chart, I guess. At least I'm not alone in my assessment. If the dollar pops convincingly through the top of the purple channel, it could rise for quite some time.