USD/ILS may rise 212 - 300 pips

Our pivot point stands at 3.7735.

Our preference

The upside prevails as long as 3.7735 is support.

Alternative scenario

The downside breakout of 3.7735 would call for 3.7587 and 3.7498.

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 3.7768 and 3.7707).

Supports and resistances

3.8442 **

3.8353 *

3.8264 **

3.8176

3.7964 last

3.7794

3.7735 **

3.7587 *

3.7498 **

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