EUR/ILS may fall 224 - 331 pips

4.1755 is our pivot point.

Our preference

Under pressure below 4.1755.

Alternative scenario

Above 4.1755, look for 4.1936 and 4.2043.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 4.1584 and 4.1540).

Supports and resistances

4.2043 **

4.1936 *

4.1755 **

4.1684

4.1531 last

4.1307

4.1200 **

4.1093 *

4.0986 **

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