EUR/ILS may fall to 3.7960 - 3.8406

Our pivot point is at 4.0220.

Our preference

The downside prevails as long as 4.0220 is resistance.

Alternative scenario

Above 4.0220, look for 4.0976 and 4.1426.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3.9787 and 3.9893).

Supports and resistances

4.1426 **

4.0976 *

4.0220 **

3.9923

3.9357 last

3.8406

3.7960 **

3.7513 *

3.7067 **

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