USD/ILS may rise 180 - 263 pips

Our pivot point stands at 3.6902.

Our preference

The upside prevails as long as 3.6902 is support.

Alternative scenario

The downside breakout of 3.6902 would call for 3.6763 and 3.6679.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3.7026 and 3.7053). Finally, the USD/ILS is trading above its upper Bollinger band (standing at 3.7110).

Supports and resistances

3.7541 **

3.7458 *

3.7374 **

3.7291

3.7111 last

3.6957

3.6902 **

3.6763 *

3.6679 **

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