Will Price Hold at Flip Level for Move Higher

Price has now snapped back above the major daily chart resistance level.

This level was a previous support level that contained prices before a strong breakout lower.

This price flip level now looks crucial for the next move in this pair.

If it holds as a support level, it could be a solid level to look for long trades should price rotate lower.

We should keep in mind, now price is back above this level it is likely we will see price move back into a period of sideways movement like it experienced last time it was within these levels.