USD/ILS may fall to 3.4797 - 3.5411

Our pivot point stands at 3.7787.

Our preference

The downside prevails as long as 3.7787 is resistance.

Alternative scenario

Above 3.7787, look for 3.8828 and 3.9448.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3.7249 and 3.7093).

Supports and resistances

3.9448 **

3.8828 *

3.7787 **

3.7378

3.6769 last

3.5411

3.4797 **

3.4183 *

3.3569 **

Number of asterisks represents the strength of support and resistance levels.