The Australian dollar is above the weekly pivot (1.0359) and above the Moving Average of 200 periods (blue). Therefore, the pivot points show the following.
The fact that the pair is above the weekly pivot increases the likelihood that there is an upward movement until the second weekly resistance of 1.0495.
Moreover, the downward pressure will continue to increase below moving average 200, the nearest target is 1.0208.
1.0359 and 1.0312 are weekly and monthly pivot points for this week for AUD/USD.
Signals for November 05 - 10, 2012
Buy long if it closes above weekly pivot at 1.0359 with take profit at 1.0452 and 1.0487, stop loss is bellow (W_S1).
Buy if it rebounds around 1.0301 with take profit at 1.0359 and 1.0452, stop loss is bellow (W_S1).
_____WEEKLY_____
Weekly - R3 = 1.0487
Weekly - R2 = 1.0452
Weekly - R1 = 1.0394
Weekly Pivot = 1.0359
Weekly - S1 = 1.0301
Weekly - S2 = 1.0266
Weekly - S3 = 1.0208
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_____MONTHLY____
Monthly - R3 = 1.0735
Monthly - R2 = 1.0573
Monthly - R1 = 1.0474
Monthly Pivot = 1.0312
Monthly - S1 = 1.0213
Monthly - S2 = 1.0051
Monthly - S3 = 0.9952
