USD/ILS may fall 297 - 400 pips

Our pivot point is at 3.8013.

Our preference

The downside prevails as long as 3.8013 is resistance.

Alternative scenario

The upside breakout of 3.8013, would call for 3.8187 and 3.8290.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 3.7908 and 3.7914).

Supports and resistances

3.8290 **

3.8187 *

3.8013 **

3.7944

3.7866 last

3.7569

3.7466 **

3.7363 *

3.7260 **

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