There was nice piece in "Rminiscences of a Stock Operator" by Edvin LeFevre. About breaking out of range:

"I recall how I missed a big play just by trying to anticipate the starting
signal. I felt so sure of conditions that I thought it was not necessary to wait for the line
of least resistance to define itself. I even thought I might help it arrive, because it looked
as if it merely needed a little assistance.
I was very bullish on cotton. It was hanging around twelve cents, running up and down
within a moderate range. It was in one of those in-between places and I could see it. I
knew I really ought to wait. But I got to thinking that if I gave it a little push it would go
beyond the upper resistance point.
I bought fifty thousand bales. Sure enough, it moved up. And sure enough, as soon as I
stopped buying it stopped going up. Then it began to settle back to where it was when I
began buying it. I got out and it stopped going down. I thought I was now much nearer
the starting signal, and presently I thought I'd start it myself again. I did. The same thing
happened. I bid it up, only to see it go down when I stopped. I did this four or five times
until I finally quit in disgust."


So here's my GU story :)
In addition to no one want to break up 1.67, i suppose that in spite of rising risk appetite there is still no enough volatility in emerging market, therefore even if investors wish to go back there, they have no one to buy from, so they still have to keep their USD, and that's why it doesn't fall yet.