$US is now above the 0.024 level.
A question every beginner asks: How should you understand support and resistance?
A common rule of thumb is that a resistance level that’s decisively broken often later becomes support, while a support level that’s decisively broken often later becomes resistance.
Breaking through a level only means one side has the upper hand at that moment. Whether the move can continue depends on the next key levels ahead and whether trading volume can be sustained.
The same reading can mean very different things in different market conditions, so don’t apply any single rule of thumb mechanically.
Not financial advice.
A question every beginner asks: How should you understand support and resistance?
A common rule of thumb is that a resistance level that’s decisively broken often later becomes support, while a support level that’s decisively broken often later becomes resistance.
Breaking through a level only means one side has the upper hand at that moment. Whether the move can continue depends on the next key levels ahead and whether trading volume can be sustained.
The same reading can mean very different things in different market conditions, so don’t apply any single rule of thumb mechanically.
Not financial advice.