Support and Resistance Levels
Support: The 1.1500 level appears to be a significant support area. A break below this level could indicate a potential reversal of the uptrend.
Resistance: The 1.3000 level acts as a key resistance. A break above this level would likely lead to further price appreciation.
Entry Signal
Based on the current technical indicators and price action, a potential entry signal could be considered when the price:
Retests the 1.1500 support level: A retest of this level could provide a buying opportunity, as the price might find support and bounce back upwards.
Breaks above the 1.3000 resistance level: A breakout above this level would confirm a stronger bullish trend and could signal a potential entry point for a long position.
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