USD/ILS may rise 171 - 256 pips

3.7293 is our pivot point.

Our preference

The upside prevails as long as 3.7293 is support.

Alternative scenario

The downside breakout of 3.7293 would call for 3.7150 and 3.7065.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 3.7355 and 3.7294).

Supports and resistances

3.7976 **

3.7890 *

3.7805 **

3.7720

3.7549 last

3.7349

3.7293 **

3.7150 *

3.7065 **

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