The restrictive range for USDollar this past three weeks shows how constricted the market is. Yet, despite the clear boundaries and the presence of NFPs this past week, the market wouldn't clear its range. Meanwhile, activity measures show that we are hitting some extreme levels. The 20-day ATR has dropped to its lowest level since January and the width of the Bollinger Bands has dropped to lows not seen in over a year. There will be a break here - whether or not it finds meaningful follow through is another matter...