USD/ILS may fall 263 - 352 pips

3.7210 is our pivot point.

Our preference

Under pressure below 3.7210.

Alternative scenario

Above 3.7210, look for 3.7360 and 3.7449.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 3.7110 and 3.7077).

Supports and resistances

3.7449 **

3.7360 *

3.7210 **

3.7151

3.7053 last

3.6790

3.6701 **

3.6612 *

3.6524 **

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