USD/ILS may rise 164 - 244 pips

Our pivot point stands at 3.6142.

Our preference

The upside prevails as long as 3.6142 is support.

Alternative scenario

The downside breakout of 3.6142 would call for 3.6008 and 3.5928.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 3.6221 and 3.6171).

Supports and resistances

3.6769 **

3.6689 *

3.6609 **

3.6529

3.6365 last

3.6194

3.6142 **

3.6008 *

3.5928 **

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