What is support and Resistance in market

What is support and Resistance in market

Support in forex market is the price level at which there has historically been sufficient buying demand to stop further declines, shown by a horizontal line drawn below the current price level. Resistance is a horizontal line that is drawn above the current price level to show the point at which historically there has been enough selling interest to stop further price increases. The level of purchasing demand at this point is sufficient to offset the selling effort and hold the price from declining any further.