EUR/ILS may fall 219 - 325 pips

Our pivot point stands at 4.1279.

Our preference

As long as 4.1279 is resistance look for 4.0697.

Alternative scenario

The upside breakout of 4.1279, would call for 4.1458 and 4.1564.

Comment

The RSI is below 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 4.1058 and 4.1077).

Supports and resistances

4.1564 **

4.1458 *

4.1279 **

4.1209

4.1022 last

4.0803

4.0697 **

4.0591 *

4.0485 **

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