Several areas of the market have reached key levels of support or resistance. 

Crude Oil continues to digest recent gains just below overhead supply near its former 2019 highs. 

The Euro/Dollar is finding support at the recently violated 12-year downtrend line. 

And the Emerging Markets ETF $EEM continues to consolidate near its 2007 highs.

Meanwhile, the US Dollar is also testing key levels. 

USD strength has become a major market theme over the last couple of months -- along with the potential effects it could have on global risk assets. A strong US Dollar could apply pressure to Emerging Markets, Commodities, and cyclical assets in general. This would challenge the global growth thesis and the rotation into cyclical areas we have seen play out over recent months.

On the flip side, there are areas of the Currency Market that continue to...