USD/ILS may rise 198 - 291 pips

Our pivot point stands at 3.6436.

Our preference

Look for a drop towards 3.6436 before a bounce.

Alternative scenario

The downside breakout of 3.6436 would call for 3.6280 and 3.6188.

Comment

The RSI is above 50. The MACD is below its signal line and negative. The penetration of 50 on the RSI would call for further downside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3.6669 and 3.6668).

Supports and resistances

3.7146 **

3.7053 *

3.6961 **

3.6868

3.6670 last

3.6497

3.6436 **

3.6280 *

3.6188 **

Number of asterisks represents the strength of support and resistance levels.