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DXY - weak US retail sales could trigger a bearish break

TVC:DXY   US Dollar Currency Index
At the moment, DXY             is trading above the smaller falling trend line . Prices hit a low of 91.92 earlier this month, before the recovery was set in motion. At 94.40, DXY             is well above 23.6% Fibo of 100.52-91.92 located at 93.95 levels.

US retail sales likely to rebound

Following last friday's upbeat wage growth figures release, expectations of a sharper rebound in advance retail sales gathered traction.

consequently, dollar is on the rise. However, a weaker rebound in retail sales could trigger a drop below daily low of 94.12. That would also mean a failure to sustain above falling trendline and would open doors for a fall back to 93.68-93.00 levels.

A daily close today above 94.36 would indicate short-term bearish invalidation.

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