EUR/ILS may fall 294 - 425 pips

Our pivot point is at 4.1303.

Our preference

The downside prevails as long as 4.1303 is resistance.

Alternative scenario

Above 4.1303, look for 4.1525 and 4.1657.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.1131 and 4.1156).

Supports and resistances

4.1657 **

4.1525 *

4.1303 **

4.1216

4.1064 last

4.0770

4.0639 **

4.0507 *

4.0375 **

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