USD/ILS may fall 301 - 403 pips

Our pivot point stands at 3.7727.

Our preference

Under pressure below 3.7727.

Alternative scenario

The upside breakout of 3.7727, would call for 3.7900 and 3.8003.

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 stands below its 20 and 50 period moving average (respectively at 3.7589 and 3.7585).

Supports and resistances

3.8003 **

3.7900 *

3.7727 **

3.7659

3.7578 last

3.7277

3.7175 **

3.7072 *

3.6969 **

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