USD/ILS may rise 189 - 284 pips

Our pivot point is at 3.7357.

Our preference

The upside prevails as long as 3.7357 is support.

Alternative scenario

The downside breakout of 3.7357 would call for 3.7199 and 3.7104.

Comment

The RSI is above 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 3.7564 and 3.7572).

Supports and resistances

3.8053 **

3.7959 *

3.7864 **

3.7769

3.7580 last

3.7420

3.7357 **

3.7199 *

3.7104 **

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