The shekel was flat against the dollar in morning inter-bank trading, but weakened against the euro. The shekel-dollar exchange rate is down 0.07%, compared with yesterday's representative rate, to NIS 3.925/$, but the shekel-euro exchange rate is up 0.30% to NIS 4.997/€.
FXCM Israel says, "The dollar is continuing to rise against the shekel, reaching the interim target of NIS 3.941 yesterday. At this stage, it seems that the dollar will continue to strengthen, backed by technical indicators and the geopolitical situation, which is tending toward security flare-ups. The drops on the TASE also support the strengthening of the dollar, and in general, there is a feeling that the dollar is a good place to park for a while in Israel and in the world."
FXCM predicts the following targets for the shekel-dollar exchange rate: NIS 3.941/$ (again); NIS 3.953/$; and NIS 3.966/$. If the shekel-dollar exchange rate falls below NIS 3.912/$, the next target will be NIS 3.902/$.
Atrade, says that the shekel-dollar exchange rate failed to break the NIS 3.95/$ level yesterday. "This failure could send the exchange back toward NIS 3.90/$, but an upward breakthrough could send the exchange back toward to NIS 4/$," it says.
