Just saw: $US moved above the 0.033 level.
People often ask what round-number levels mean. Here’s how I understand them.
A common rule of thumb is that a resistance level that is decisively broken often turns into support, while a support level that is decisively broken often turns into resistance.
The level itself doesn’t determine the direction; it’s more like an area where buyers and sellers tend to clash. Ultimately, trading activity tells the story.
The same data can mean very different things in different market conditions, so don’t apply any one rule blindly.
This is not investment advice. You are responsible for your own gains and losses.
People often ask what round-number levels mean. Here’s how I understand them.
A common rule of thumb is that a resistance level that is decisively broken often turns into support, while a support level that is decisively broken often turns into resistance.
The level itself doesn’t determine the direction; it’s more like an area where buyers and sellers tend to clash. Ultimately, trading activity tells the story.
The same data can mean very different things in different market conditions, so don’t apply any one rule blindly.
This is not investment advice. You are responsible for your own gains and losses.