USD/ILS will break out from a “Falling Wedge” pattern

The pair will break out from a “Falling Wedge” pattern resistance line, sending the pair higher towards a major resistance line. The US-Israel relationship is under pressure following the rise of Bernie Sanders, a Democratic 2020 US presidential candidate. Sanders, unlike other candidates, has been vocal about his concern on Israel and its leadership. He skipped the American Israel Public Committee (AIPAC) conference yesterday, March 02. The meeting coincides with Israel’s election for prime minister. In a span of 12 months, Israel voted three (3) times for one of the country’s top positions. This was amid the failure of the incumbent prime minister to form a coalition government. Benjamin Netanyahu has been Israel’s prime minister since 2009. He previously held the same position from 1996 to 1999, making him the longest serving PM in the country. He was the key for a strong US-Israel alliance.