USD/ILS may rise 209 - 295 pips

Our pivot point is at 3.7312.

Our preference

Rise to 3.7854.

Alternative scenario

Below 3.7312, expect 3.7168 and 3.7082.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the pair is trading under its 20 period moving average (3.7567) but above its 50 period moving average (3.7530).

Supports and resistances

3.8027 **

3.7941 *

3.7854 **

3.7768

3.7559 last

3.7369

3.7312 **

3.7168 *

3.7082 **

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