USD/ILS may rise 221 - 324 pips

Our pivot point stands at 3.7720.

Our preference

The upside prevails as long as 3.7720 is support.

Alternative scenario

The downside breakout of 3.7720 would call for 3.7546 and 3.7443.

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 above its 20 and 50 period moving average (respectively at 3.7871 and 3.7872).

Supports and resistances

3.8476 **

3.8372 *

3.8268 **

3.8165

3.7944 last

3.7789

3.7720 **

3.7546 *

3.7443 **

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