Both FX indices are poised at key levels. The USDX is poised just under resistance from the 2010 highs. Any bullish break of this 88.50 level would suggest a test of 89.50 and then 90.
The EURX is at a key level of its own though. The 4hr chart shows how price has pulled back to the key 61.8% fib. This will be a ‘make or break’ level here for the index. A move beyond this fib level would suggest bearish continuation. A respect of this fib would suggest a hold and possibly reversal:
EURX 4hr: note how price has pulled back to the 61.8% fib of the recent bull run:
There is high impact German Ifo Buisness Climate data out later and this may help to shape the direction for the EURX.