USD/ILS may fall 345 - 458 pips

3.6728 is our pivot point.

Our preference

The downside prevails as long as 3.6728 is resistance.

Alternative scenario

Above 3.6728, look for 3.6920 and 3.7034.

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 3.6796 and 3.6871). Finally, the USD/ILS is trading below its lower Bollinger band (standing at 3.6587).

Supports and resistances

3.7034 **

3.6920 *

3.6728 **

3.6653

3.6531 last

3.6186

3.6073 **

3.5959 *

3.5846 **

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