The currency ETFs status

Reports today suggests that the Brazilian central bank will have to raise rates later this year to combat a very hot economy. The ETF to track the Brazilian real is BZF.

The table below shows all currency ETFs in terms of their overvalued and overbought status.

As you can see, UUP is very nearly oversold by all measured (long, medium, and short terms), as is EUO (ultra-short Euro).

At the other side of the spectrum, nearly overbought on all measures are AYT (Asia 8), ICN (Indian Rupee), FXA (Australia), and FXC (Canada).

BZF is in the middle of the table but is long term nearly overbought.