USD/ILS may fall 270 - 358 pips

Our pivot point stands at 3.6786.

Our preference

The downside prevails as long as 3.6786 is resistance.

Alternative scenario

The upside breakout of 3.6786, would call for 3.6935 and 3.7024.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3.6696 and 3.6699).

Supports and resistances

3.7024 **

3.6935 *

3.6786 **

3.6728

3.6606 last

3.6336

3.6248 **

3.6160 *

3.6071 **

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