USD/ILS may rise 179 - 261 pips

Our pivot point stands at 3.7088.

Our preference

The upside prevails as long as 3.7088 is support.

Alternative scenario

Below 3.7088, expect 3.6952 and 3.6870.

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 3.7214 and 3.7197). Finally, the USD/ILS has crossed above its upper Bollinger band (3.7348).

Supports and resistances

3.7775 **

3.7693 *

3.7612 **

3.7530

3.7351 last

3.7141

3.7088 **

3.6952 *

3.6870 **

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