USD/ILS may fall to 3.4428 - 3.5222

Our pivot point is at 3.8191.

Our preference

Under pressure below 3.8191.

Alternative scenario

The upside breakout of 3.8191, would call for 3.9537 and 4.0339.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3.7348 and 3.7097).

Supports and resistances

4.0339 **

3.9537 *

3.8191 **

3.7662

3.6939 last

3.5222

3.4428 **

3.3633 *

3.2839 **

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