USD/ILS may fall 271 - 359 pips

Our pivot point is at 3.6487.

Our preference

The downside prevails as long as 3.6487 is resistance.

Alternative scenario

The upside breakout of 3.6487, would call for 3.6635 and 3.6723.

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 3.6488 and 3.6535).

Supports and resistances

3.6723 **

3.6635 *

3.6487 **

3.6429

3.6346 last

3.6075

3.5987 **

3.5899 *

3.5811 **

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