USD/ILS 1H Chart: Pair waits bullish confirmation
Upside risks dominated the USD/ILS exchange rate after the pair reversed from the lower boundary of a long-term ascending channel located at 3.5758.
The rate is trading near the upper boundary of a short-term ascending channel. Given that the currency pair is supported by the 55-, 100– and 200-hour SMAs, it is likely that a breakout from the junior channel occurs during the following trading sessions. A potential upside target is the monthly R2 at 3.6912.
By the large, it is expected that the exchange rate continues its increase until the Fibonacci 0.00% at the 3.7177 mark.
The rate is trading near the upper boundary of a short-term ascending channel. Given that the currency pair is supported by the 55-, 100– and 200-hour SMAs, it is likely that a breakout from the junior channel occurs during the following trading sessions. A potential upside target is the monthly R2 at 3.6912.
By the large, it is expected that the exchange rate continues its increase until the Fibonacci 0.00% at the 3.7177 mark.
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