USD/ILS may fall 283 - 387 pips

Our pivot point stands at 3.8014.

Our preference

The downside prevails as long as 3.8014 is resistance.

Alternative scenario

The upside breakout of 3.8014, would call for 3.8189 and 3.8292.

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 3.7869 and 3.7861).

Supports and resistances

3.8292 **

3.8189 *

3.8014 **

3.7946

3.7830 last

3.7547

3.7443 **

3.7340 *

3.7236 **

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