While the Dollar has fallen back sharply from its recent highs it was able to respect recent consolidation support of 85.76. With a slack US economic report slate today, fresh ultra-weak data from Germanyovernight and a report of an Ebola infection in Spain, the flow toward the Dollar should be expected to resurface.About the only drag against the Dollar is concern of slack labor statistics from the US Fed. Pushed into the marketwe have to put the bull camp back in control. However, Dollar bulls might be on guard later in the session in thewake of US Consumer Credit results, which might show a contraction from the prior month, as that could end uppulling the Dollar back down from morning gains on the charts.
Technical Outlook: The daily stochastics have crossed over down which is a bearish indication.Stochastics turning bearish at overbought levels will tend to support lower prices if support levels are broken. Themarket’s short-term trend is positive on the close above the 9-day moving average. The market’s close below the1st swing support number suggests a moderately negative setup for today. The next downside objective is 84.96.The next area of resistance is around 86.40 and 87.18, while 1st support hits today at 85.30 and below there at84.96.