USD/ILS may fall 234 - 330 pips

Our pivot point stands at 3.7791.

Our preference

As long as 3.7791 is resistance look for 3.7223.

Alternative scenario

Above 3.7791, look for 3.7953 and 3.8049.

Comment

The RSI is below its neutrality area at 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 stands below its 20 and 50 period moving average (respectively at 3.7598 and 3.7584).

Supports and resistances

3.8049 **

3.7953 *

3.7791 **

3.7728

3.7553 last

3.7319

3.7223 **

3.7127 *

3.7032 **

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