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USD/ILS Eyes 3.30 as Tensions Show No Signs of Thawing

ISRAEL

Israel Market Snapshot:

  • USD/ILS opens slightly higher this morning, having retraced the majority of yesterday's pullback towards 3.27.
  • Overnight Biden threw his weight behind Israel, while both sides continued to exchange rocket fire and airstrikes with few signs of slowing down at this juncture.
  • Social conflict is also escalating on the ground with inter-community rioting gaining traction overnight.
  • Spot USD/ILS is hovering just below 3.30 this morning, having closed a fraction above the 50dma, with a long downside wick forming on the daily candle – indicating firm buying interest towards 3.27 support.
  • RSI & MACD turning bullish, RSI at 60.21, while the MACD approaches the signal line.
  • Next key resistance levels at 3.2976, 3.3112 & 200dma at 3.3188
  • EUR/ILS also managed to remain above its 200dma in yesterday's session, with attention on round number resistance at 4.00.
  • TA-35 index trades -1.06% this morning, broadly in line with weaker global risk sentiment. 1,600 support eyed to the downside.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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