US Dollar vs Israeli Shekel rises over 1% as technical momentum fuels gains

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Us dollar/shekel rises 1.12% today

Highlights

USD/ILS trades within a bullish short- and medium-term structure, but stays bearish on the longer-term trend.
Momentum indicators confirm buyer dominance and upward intraday bias, though a divergence emerges with some oversold signals.
Key levels for the coming days are resistance at ₪3.0305, support at ₪3.016, with a projected range of ₪3.0045 to ₪3.0515.

Anton Kharitonov, expert at Traders Union, sees the recent 1.12% rise in USD/ILS as driven by technical momentum but maintains a cautious stance due to the absence of supportive news. He notes that while the pair trades above its short- and medium-term moving averages, the long-term structure remains bearish and overhead resistance at ₪3.0305 looms. Kharitonov highlights that constructive momentum indicators and positive BBP signal short-term buying, yet oversold oscillators and high volatility may hint at a reversal risk. The lack of fresh news leaves sentiment fragile, limiting confidence in sustained upside. "Momentum may continue near-term, but I'm wary of a quick pullback if buying interest fades or sellers defend resistance," he says.

Viktoras Karapetjanc, expert at Traders Union, views the current technical setup as a foundation for further growth in USD/ILS. He focuses on the market's ability to stay above key moving averages, signaling renewed buying confidence. With robust momentum and the bullish structure intact, he expects buyers to challenge resistance at ₪3.0305 and possibly target the forecast upper band at ₪3.0515. Karapetjanc sees opportunity given the strong technical alignment, despite the absence of new macro drivers. "Further upside is likely as bullish momentum builds — traders should look for breakouts toward the upper range," he states.

Parshwa Turakhiya, analyst, believes USD/ILS presents a short-term trading range with both opportunity and caution. He notes buyers are in control for now, with positive momentum confirmed by MACD and BBP, but highlights the divergence between oversold oscillators and price strength. Turakhiya sees key levels at ₪3.0305 and ₪3.016 as pivotal. "I'm watching for a swift reaction at those levels — nimble traders could benefit from momentum swings on either side," he comments.

Short-term bullish outlook persists as resistance constrains upward push

USD/ILS is trading above its MA-20 (₪2.9722) and MA-50 (₪2.9256), but remains below the MA-200 (₪3.0657), suggesting a bullish short- and medium-term structure within a broader bearish long-term trend. The pair faces resistance at ₪3.0305 and finds initial support at ₪3.016. Momentum indicators are largely constructive: the MACD (Strong Buy) and ADX (Buy) highlight solid upward momentum. The RSI signals a Buy bias but remains below overbought levels, while the Stochastic RSI is oversold and the Commodity Channel Index (CCI) reflects underlying buying interest. Bull/Bear Power (BBP) is positive, confirming buyers dominate intraday momentum, with the Awesome Oscillator (AO) holding neutral. The pair is trading near the session high, with volatility at 1.26%, reflecting strength toward session highs. However, the mix of oversold readings and upward momentum suggests some near-term divergence.

Earlier, analysts noted that USD/ILS exhibited short- and medium-term bullish momentum while long-term resistance remained a constraint on further upside. The latest data reinforce this dynamic, with sustained buying interest indicating that traders should closely monitor for a decisive breakout above the key resistance zone to confirm a shift in broader trend direction.

Source of Data: USD Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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