Dollar vs Shekel stays under pressure as momentum signals fail to break 200-day moving average

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Us dollar/shekel slides 0.50% today

Highlights

USD/ILS trades above its short- and medium-term moving averages, but remains capped by longer-term resistance.
Momentum indicators collectively signal ongoing buying strength, with some overbought warnings emerging in select oscillators.
USD/ILS is expected to consolidate between ₪2.9859 and ₪3.0451 in the next five days, with an upward breakout more likely.

Anton Kharitonov, expert at Traders Union, sees USD/ILS trapped in a technical deadlock. He notes strong momentum signals have failed to overcome the entrenched resistance near the 200-day moving average. The lack of news and fundamental triggers adds to the pair's vulnerability, making sustained upside unlikely for now. He points to the bearish alignment of the 50- and 200-day moving averages as confirmation of ongoing weakness. Kharitonov warns, "Until buyers reclaim ₪3.0323, rallies look unsustainable and any bullish setup is at risk of failure."

Viktoras Karapetjanc, expert at Traders Union, highlights ongoing bullish momentum in USD/ILS. He views positive technical signals and persistent buying pressure as confirming a constructive setup. Despite muted news, Karapetjanc believes the elevated RSI and strong MACD support further upside. He expects gains if the ceiling at ₪3.0323 is breached. "The bullish structure remains intact — further growth towards ₪3.0451 is very much in play," Karapetjanc says.

Bullish momentum persists as long-term resistance caps advance

USD/ILS trades just above its 20-day and 50-day moving averages at ₪2.9998 and ₪2.9395, respectively, but remains below the 200-day moving average at ₪3.0597. This structure favors short- and medium-term strength with lingering long-term resistance, highlighted by the bearish alignment between the 50-day and 200-day moving averages. Immediate technical zones include a ceiling at ₪3.0323 and a floor at ₪3.0086. Momentum indicators are broadly positive: MACD and ADX signal ongoing buy strength, RSI holds at 61.72 in bullish territory but not yet overbought, Stochastic RSI and CCI both suggest elevated buying pressure with CCI flashing an overbought reading at 118.85. Bull/Bear Power (BBP) is positive at 0.0268, supporting buyers intraday. Despite these momentum signals, the pair is trading near its session low after a mild drop, with intraday volatility at 0.79% showing some pressure after the open.

Earlier, analysts noted that the Dollar vs Shekel faced a prevailing downward bias amid technical weakness and geopolitical uncertainty. The current momentum shift and strong buying signals suggest a potential change in sentiment, making a sustained move above the ₪3.0323 resistance a pivotal level to monitor for bullish continuation.

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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