USD/ILS may fall 179 - 267 pips

Our pivot point stands at 3.6484.

Our preference

The downside prevails as long as 3.6484 is resistance.

Alternative scenario

Above 3.6484, look for 3.6632 and 3.6720.

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 3.6368 and 3.6372). Finally, the USD/ILS has penetrated its lower Bollinger band (3.6268).

Supports and resistances

3.6720 **

3.6632 *

3.6484 **

3.6426

3.6261 last

3.6082

3.5994 **

3.5906 *

3.5818 **

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