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USD/ILS Eyes Major Support at 3.2346

ISRAEL
  • USD/ILS comprehensively rejected a move beyond key resistance at 3.30, and looks ready to challenge major support at the Feb lows.
  • Tensions with Palestine have eased considerably with the US currently monitoring the ceasefire, but social frictions remain elevated in mixed neighbourhoods in Israel.
  • Momentum indicators signal the bear trend remains intact (RSI 40.7), but will need to clear 3.2346 in order to head lower towards 3.20 and below.
  • 50dma seen narrowing to 100dma for bearish crossover too.
  • Downside supports at 3.2108, 3.20, 3.1762 & 3.1130


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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