USD/ILS may fall 197 - 284 pips

Our pivot point stands at 3.6204.

Our preference

The downside prevails as long as 3.6204 is resistance.

Alternative scenario

The upside breakout of 3.6204, would call for 3.6351 and 3.6438.

Comment

The RSI is below its neutrality area at 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 3.6112 and 3.6134). Finally, the USD/ILS is trading below its lower Bollinger band (standing at 3.5983).

Supports and resistances

3.6438 **

3.6351 *

3.6204 **

3.6147

3.5939 last

3.5742

3.5655 **

3.5568 *

3.5481 **

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