| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Sell | Buy |
| RSI (14) | Neutral | Neutral | Neutral |
| Stochastic (5; 3) | Neutral | Neutral | Buy |
| Alligator (13; 8; 5) | Neutral | Sell | Buy |
| SAR (0.02; 0.2) | Buy | Sell | Sell |
| Aggregate | ⇒ | ⇘ | ⇗ |
The Israeli Shekel has been appreciating against the US Dollar since the beginning of August after the pair reversed from the upper boundary of a medium-term channel at 3.7237.
As apparent on the chart, the pair is testing the lower channel line at 3.5700. From the theoretical point of view, a reversal and a breakout from a junior descending channel could occur in the nearest future Technical indicators for the 1W time-frames also support bullish scenario. A possible upside target for the following sessions is the 100-period (1D) SMA at 3.6233.
In case the Fibonacci 38.20% retracement at 3.5968 is not surpassed, the pair could breach the senior channel and aim for the weekly PP at 3.5430.