USD/ILS may rise to 3.8868 - 3.9494

Our pivot point is at 3.6503.

Our preference

The upside prevails as long as 3.6503 is support.

Alternative scenario

The downside breakout of 3.6503 would call for 3.5459 and 3.4837.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 3.6934 and 3.7217). Finally, the USD/ILS is trading above its upper Bollinger band (standing at 3.7538).

Supports and resistances

4.0747 **

4.0121 *

3.9494 **

3.8868

3.7614 last

3.6914

3.6503 **

3.5459 *

3.4837 **

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