USD/ILS may rise 228 - 339 pips

Our pivot point stands at 3.6333.

Our preference

Our next up target stands at 3.6949.

Alternative scenario

The downside breakout of 3.6333 would call for 3.6146 and 3.6036.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 3.6566 and 3.6600).

Supports and resistances

3.7171 **

3.7060 *

3.6949 **

3.6838

3.6610 last

3.6406

3.6333 **

3.6146 *

3.6036 **

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