Dollar is messy as the market struggles with weak data, crosses, technicals

Dollar is down but...

The dollar is down but trading is a bit messy at the extremes after the weak US data. The US stock market is down but only a little. The cross pairs are an influence. Some pairs - like the GBPUSD failed on a break. Quick review....

EURUSD - Can the EURUSD stay above the support level? If so need to see the price stay above the 1.1200 level for an extended time period.

GBPUSD - failed above the 100 hour MA testing the early day highs.

USDJPY - Cannot stay below 101.00. Resistance at 101.23

The messy comes from crosses.

For the EUR, the EURJPY is wandering above and below the 200 hour MA at the 113.176 level.

The EURGBP is meanwhile moving higher (took out the high for the year/the highest high going back to August 2013 at 0.8624.

If you have crosses moving lower and higher (and both are around key levels), you can get messy trading in the major pairs (like the EURUSD, USDJPY, and GBPUSD). That is what we are seeing.