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Free AccessUSD/ILS Bounces Off 76.4% Fib, No Signs of Reprieve in Tensions
- USD/ILS opens lower this morning on the back of a weaker greenback, briefly approaching the 76.4% fib (3.2584) drawn off the 10 May.
- Today's UNSC meeting will be a key focus to see if the US manages to block and official call for a ceasefire once again, as the conflict trajectory remans firmly in Netanyahu's hands.
- A shift in tone from Biden towards a ceasefire was broadly ignored by Netanyahu who continues to pursue further goals in Gaza before exploring a de-escalation.
- Rocket fire has now been noted as coming from Lebanon, following extensive airstrikes in the Gaza strip.
- Spot USD/ILS moved below key lateral and dynamic support at 3.27 from the 100dma, but was met with buying pressure around the 3.26 level and 76.4% fib.
- Intraday Sup1: 3.2600, Sup2: 3.2525, Res1: 3.2709, Res2: 3.2739
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.