Israeli shekel launched new week's trading on a weaker footing, following weekend developments in the Middle East. Israeli forces launched air strikes on Hezbollah positions in Lebanon, following a rocket attack in Golan Heights, which resulted in a number of Israeli civilian casualties.
As much as 12 teenagers were killed while dozens more were wounded after a rocket hit a football pitch in a village in Golan Heigths on Saturday. Israel has blamed Lebanon-based Hezbollah for the attack and vowed retaliation. While Hezbollah acknowledged it has carried out missile strikes on Israel on Saturday, it has denied targeting football pitch and being responsible for the tragedy. Nevertheless, Israeli forces responded by carrying out air strikes on Hezbollah-linked targets in Lebanon.
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Open account Try demo Download mobile app Download mobile appThe events have once again raised wears about potential all-out war between Israel and Hezbollah, which would further destabilize the region. However, for now, it looks like Israel's response has been limited. Nevertheless, Israeli stocks and currency have taken a hit in response to those developments.
USDILS is trading almost 2% above Friday's close and has reached levels not seen since early-July. Taking a look at the chart at D1 interval, we can see that the pair jumped above the 3.6800 resistance zone, marked with previous price reactions and 200-session moving average (purple line), and continued to move higher. A near-term resistance zone to watch can be found in the 3.7600 area.
Source: xStation5
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