USD/ILS may rise 180 - 268 pips

3.6515 is our pivot point.

Our preference

The upside prevails as long as 3.6515 is support.

Alternative scenario

The downside breakout of 3.6515 would call for 3.6368 and 3.6280.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 3.6562 and 3.6576).

Supports and resistances

3.7193 **

3.7106 *

3.7018 **

3.6930

3.6750 last

3.6572

3.6515 **

3.6368 *

3.6280 **

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