Dollar vs Shekel rises around 1.5% as technical momentum fuels bullish run

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Usd/ils surges 1.51% today

Highlights

USD/ILS is trading with sustained bullish momentum, holding above the 20- and 50-day moving averages but facing resistance near the 200-day level.
Technical indicators are broadly supportive of further gains, with MACD signaling Strong Buy, ADX indicating trend strength, and RSI showing upward momentum without overbought conditions.
Immediate price range is set between ₪3.0162 and ₪3.0608 for the next five days, with a 68% probability of an upward move if resistance levels are breached.

Anton Kharitonov, expert at Traders Union, notes the strong technical momentum in USD/ILS, with price sustaining above its short- and medium-term moving averages. He remains skeptical about the durability of this move, emphasizing that resistance at the 200-day average creates headwinds. Oscillator readings show bullishness, but an oversold Stochastic RSI hints at near-term exhaustion. Lack of relevant news events removes support from fundamentals or sentiment. "Without news-driven catalysts, the rally above ₪3.0162 looks vulnerable and could face reversal if buyers lose resolve," he warns.

Viktoras Karapetjanc, expert at Traders Union, sees the USD/ILS setup as constructive despite muted fundamental headlines. He interprets the strong price action above the main moving averages as a sign that bullish structure remains intact. The analyst highlights strengthening momentum and continued upside opportunities within the projected band to ₪3.0608. "With bullish signals in place, the market offers multiple setups for further growth toward resistance," Karapetjanc states.

Short-term strength persists as longer-term resistance caps gains

USD/ILS is trading above both its 20-day moving average (₪2.9722) and 50-day moving average (₪2.9256), but remains just below the 200-day moving average (₪3.0657). This configuration signals short- and medium-term strength with lingering longer-term resistance. The Ichimoku Kijun (₪2.948) forms a near-term support. The trading band is defined by resistance at ₪3.0397 and support at ₪3.0162. Momentum indicators reinforce the bullish tone: MACD signals a Strong Buy, ADX denotes trend strength, and RSI climbs to 58.58, showing increasing bullish momentum without being overbought. CCI and Bull/Bear Power indicate buyer control, although the Stochastic RSI reads as oversold, implying short-term exhaustion. Price action remains strong with intraday moves near session highs and volatility at 1.57%.

Earlier, analysts noted that USD/ILS was maintaining bullish momentum in the short and medium term, but faced persistent long-term resistance. The latest market developments reinforce this view, with traders now closely watching for a breakout above the 200-day moving average that could shift the broader outlook and present fresh trading opportunities.

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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