USD/ILS may rise 191 - 285 pips

Our pivot point is at 3.7116.

Our preference

Rebound towards 3.7566.

Alternative scenario

Below 3.7116, expect 3.6959 and 3.6865.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading above its 20 period moving average (3.7269) but under its 50 period moving average (3.7413).

Supports and resistances

3.7753 **

3.7660 *

3.7566 **

3.7472

3.7281 last

3.7178

3.7116 **

3.6959 *

3.6865 **

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