The dollar index is at 103.60 level ahead of the NFP report

<div><img width="1155" height="768" src="https://www.financebrokerage.com/wp-content/uploads/2023/04/shutterstock_393692620.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="The U.S. dollar rallied on Monday. What about the Sterling? " decoding="async" loading="lazy" /></div><h1><b>The dollar index is at 103.60 level ahead of the NFP report</b></h1>
<ul>
<li aria-level="1">The dollar index started well at the beginning of this week by jumping up to 104.30 levels.</li>
</ul>
<h2><b>Dollar index chart analysis</b></h2>
<p>The dollar index started well at the beginning of this week by jumping up to 104.30 levels. We encounter resistance at that level and make a pullback to the 102.90 level on Wednesday. After that, the dollar gets support at that level, and we start a new recovery up to the 103.70 level. During the Asian trading session, we see that we are not able to <a href="https://www.financebrokerage.com/market-overview-range-break-ahead/">break</a> above, and we are pulling back slightly to the 103.60 level.</p>
<p>We need a negative consolidation and a drop below the 103.40 level for a bearish option. We would also fall below the EMA50 moving average, which would increase the bearish pressure on the dollar. Potential lower targets are 103.20 and 103.00 levels.</p>
<p>We need a positive consolidation and a break above the 103.70 level for a bullish option. Then we need to maintain above in order to stabilize there and initiate further recovery. Potential higher targets are 104.00 and 104.20 levels.</p>
<p>In today&#8217;s US session, important economic news awaits us: NFP, Unemployment and ISM Manufacturing PMI report later. This news could increase the volatility of the dollar index and all USD pairs.</p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-223002 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/09/LqfwqhVy-1024×619.jpg" alt="Dollar index chart analysis" width="1024" height="619" /></p>
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