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Support and resistance levels are price points where currency pairs tend to stop moving or reverse. Support is a potential buying point, while resistance is a potential selling point. Traders use them to identify entry and exit points and predict potential price movements.
In forex trading, as well as in other financial markets, "support" and "resistance" are fundamental concepts used to analyze price movements and make trading decisions. They are key elements of technical analysis, which involves studying historical price data to predict future price movements.