Also, on the chart we see how many times currency rate bounced from that level (1.1434), technically it's signal that level is very important for MarketMakers, they will protect it in the future.
As a Trader I work with scenarios, above it, I wrote about a scenario with a bigger probability and if something changes I have the second scenario where we can open buy.
Long I will open if price will break up 1.1434 and H4 - D1 chart close above it. Only that situation will show to us that we can open long with goals: 1.1613 and 1.1720
Chart for buy scenario:
Push like and Subscribe, if this post gets 50 like I will write when I open a position with entry and exit points (Stop Loss/Take Profit).