ILS/TRY Technical analysis

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Source: Dukascopy Bank SA
ILS/TRY pair is stuck in a sideways trading range defined by key Fibonacci levels. The market has been bouncing between the resistance ceiling at the 23.6% Fib level (12.4525) and the support floor at the 50.0% Fib level (12.3068), with the neutral RSI confirming this lack of a clear trend.



A new trend will likely start after a breakout from these boundaries; a decisive move above 12.4525 would be bullish, while a break below 12.3068 would be bearish
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