| Indicator | 4H | 1D | 1W |
| MACD (12; 26; 9) | Sell | Buy | Buy |
| RSI (14) | Buy | Neutral | Sell |
| Stochastic (5; 3) | Neutral | Buy | Neutral |
| Alligator (13; 8; 5) | Sell | Neutral | Buy |
| SAR (0.02; 0.2) | Sell | Sell | Buy |
| Aggregate | ⇘ | ⇒ | ⇗ |
USD/ILS has been bounded in a long-term ascending wedge in force since December 2017. After failing to reach the upper boundary of this pattern on August 13, a new wave down was formed.
This bearish movement proved to be stronger, thus resulting in a southern breakout of the aforementioned wedge. By mid-today, the rate had extended its losses to 2.35% and was testing the monthly S1 at 1.6320.
The given decline has sent technical indicators in the oversold territory; however, some downside potential is still apparent in the market. Apart from the monthly S1, the following support is the distant 32.20% Fibonacci retracement and the monthly S2 near 3.5910. This is unlikely that the Greenback drops that low, suggesting that a recovery might be under way. A possible upside target for the following sessions should be the breached wedge and the 200-hour SMA near 3.68.