Many macroeconomic observers forecast that the winding down of the Federal Reserve's quantitative easing programs would lend a strong bid to the US Dollar. In fact, virtually the exact opposite has occurred as the dollar has not performed well during 2014 and is currently on the verge of a major breakdown:

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USD Weekly

USD_Weekly_4.9.2014

A break of major support near the ~79 level would officially end the cyclical bull market in the USD which began in May 2011 and reassert the secular bear market which began in 2001.

USD Monthly

USD_Monthly_4.9.2014

The six year consolidation since the 2008 low can be interpreted as nothing more than a bear flag in the context of massive secular bear market - a break below 79 would add a great deal of weight to this bearish interpretation.