Come, let me explain to you the meaning of "Resistance" and "Support"

Imagine that the price of a currency is like an elevator moving within a building:

1. Resistance = the ceiling

Every time the elevator goes up to a certain floor (high price), it finds the door closed and cannot go further up, so it goes back down.

This means: the price tried to go higher, but faced "Resistance" and came back down.

2. Support = the ground

And when the elevator goes down, it reaches a certain floor (low price), it finds the ground strong, stopping it from descending, and it starts to go up again.

This means: the price dropped, but found "Support" and rose again.

Why is it important for me to know them?

If you want to buy: buy at support (low price).

And if you want to sell: sell at resistance (high price).

And if the price breaks support or resistance? We might see strong movement (big rise or strong drop).