USD/ILS may rise 252 - 355 pips

3.7418 is our pivot point.

Our preference

Rebound towards 3.7962.

Alternative scenario

The downside breakout of 3.7418 would call for 3.7245 and 3.7142.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3.7612 and 3.7630).

Supports and resistances

3.8169 **

3.8066 *

3.7962 **

3.7859

3.7607 last

3.7486

3.7418 **

3.7245 *

3.7142 **

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