The US dollar advances over robust retail sales figures in January. The selling pressure has eased after the pair tentatively broke above 0.9290 last week. The subsequent fallback found bids at the former resistance near 0.9150, keeping the buy side in the game. 0.9210 is the closest support. The supply zone around 0.9290 is sellers’ last stronghold and its breach would attract momentum buying and open the door to January’s high of 0.9400, and that would be a step closer to a bullish reversal in the medium-term.
