USD/ILS may rise 191 - 274 pips

3.6739 is our pivot point.

Our preference

The upside prevails as long as 3.6739 is support.

Alternative scenario

The downside breakout of 3.6739 would call for 3.6600 and 3.6517.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3.6817 and 3.6784).

Supports and resistances

3.7356 **

3.7273 *

3.7190 **

3.7107

3.6916 last

3.6793

3.6739 **

3.6600 *

3.6517 **

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