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Support refers to a level at which demand for a currency is thought to be strong enough to prevent its price from declining further. In other words, it is a level at which buyers are believed to step in and start buying, preventing the price from falling.
Resistance, on the other hand, refers to a level at which selling pressure is believed to be strong enough to prevent the price from rising further. In other words, it is a level at which sellers are believed to step in and start selling, preventing the price from going up.
