Why is USD/ILS up 0.7% today?

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Usd/shekel rises 0.78% today

Highlights

USD/ILS remains in a short- and medium-term bullish trend, trading above key moving averages and displaying strong buying interest.
Momentum indicators and intraday flows confirm a high probability of further upside, with buyers in clear control near resistance at ₪3.0533.
The next 5 days project consolidation between ₪3.017 and ₪3.0728, with breakout potential above ₪3.0533 or risk below ₪3.017.

Anton Kharitonov, expert at Traders Union, sees the recent move in USD/ILS driven mainly by technical momentum rather than fundamental shifts. He notes that the absence of news flow reduces conviction behind the buying interest. Despite positive short-term indicators, the persistent cap under the 200-day average and the bearish 50- vs 200-day setup signal caution for bulls. Kharitonov warns that overbought momentum could reverse quickly if resistance at ₪3.0533 holds. He concludes, "I remain skeptical about sustained upside until the pair convincingly reclaims the long-term trend above ₪3.0566."

Viktoras Karapetjanc, expert at Traders Union, believes that USD/ILS maintains a solid bullish structure. He highlights strong buy signals from MACD and ADX and positive momentum, which reinforce the high-probability forecast for further gains. Karapetjanc points to the range between ₪3.017 and ₪3.0728 as a promising setup for active traders. He adds, "The upside breakout scenario remains in play and I expect further growth as technical momentum builds above key levels."

Short-term bullish bias as buy signals offset long-term resistance

USD/ILS is trading above both the 20-day and 50-day moving averages at ₪3.0045 and ₪2.9451, respectively, but remains just below the 200-day average at ₪3.0566. This MA configuration suggests a persistent short- and medium-term bullish bias, although longer-term pressure from sellers remains, as supported by the bearish 50 vs 200-day alignment. The nearest resistance is seen at the near-term ceiling of ₪3.0533, with support at the near-term floor of ₪3.0361. Momentum signals are broadly positive. The Moving Average Convergence Divergence (MACD) and Average Directional Index (ADX) both forecast buy signals, indicating building strength. The Relative Strength Index (RSI) sits neutral at 57.53, not far from overbought, while the Stochastic RSI and Bull/Bear Power (BBP) confirm strong intraday buying interest. BBP above zero signals buyers firmly dominate. The daily change is up, with the pair gaining ₪0.0235 or 0.78%, opening with an upside gap of about 0.27%. Price is trading near the daily high, and intraday volatility stands at 0.83%. The pair displays clear strength toward highs, in line with momentum readings.

Earlier, analysts noted that while USD/ILS was exhibiting persistent short- and medium-term bullish momentum, long-term gains remained constrained by overhead resistance. The latest technical readings bolster this view, and traders should closely watch for a breakout above the key resistance level to signal the next decisive move.

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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