The dollar index is at a crucial test at the 103.00 level

<div><img width="1152" height="768" src="https://www.financebrokerage.com/wp-content/uploads/2023/05/shutterstock_1393820660.jpg" class="attachment-post-thumbnail size-post-thumbnail wp-post-image" alt="U.S. dollar was steady Monday. What about other currencies?" decoding="async" loading="lazy" /></div><h1><b>The dollar index is at a crucial test at the 103.00 level</b></h1>
<ul>
<li aria-level="1"><span>The dollar index was in a mild bullish trend this week with the support of the EMA50 moving average. </span></li>
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<h2><b>Dollar index chart analysis</b></h2>
<p><span>The dollar index was in a mild bullish trend this week with the support of the EMA50 moving average. Yesterday we saw a lot of turbulence on the chart, a dip and a bounce. We can say that support at the 103.00 level is very important with EMA50 moving average. With a break below, we could see a stronger <a href="https://www.financebrokerage.com/oil-prices-decline-amidst-us-debt-ceiling-deal-concerns/">decline</a> in the dollar.</span></p>
<p><span>The next series of support zones is the 102.70-102.80 range; from that place, we can expect a new bullish impulse. If there is a break below this zone, the potential lower targets are 102.60 and 102.50 levels. The previous low is at the 102.40 level.</span></p>
<p><span>We need a positive consolidation and a move to the 103.10 level for a bullish option. Thus, we would be stationed above the EMA50 moving average, which should positively affect the dollar index. Potential higher targets are 103.20 and 103.30 levels.</span></p>
<p><span>Today we have three very important news from the US economy: Average Hourly Earnings, NFP report and unemployment rate. These three reports will definitely affect the volatility and trend of the dollar.</span></p>
<p><img decoding="async" loading="lazy" class="aligncenter wp-image-210465 size-large" src="https://www.financebrokerage.com/wp-content/uploads/2023/07/Ds5fsR1P-1024×634.jpg" alt="Dollar Index chart analysis" width="1024" height="634" /></p>
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