According to the table pivots, the Australian dollar is trading above the weekly pivot and above the 200 day moving average periods (blue). It increases the probability that the pair could continue rising until the third resistance, 1.0605 weekly. A return to the level of the EMA 200 will be a good opportunity to buy back the pair. However, last week the pair could not overcome the resistance level of 1.0450. It is possible that there is downward pressure at this level, you can sell at this level. Therefore, we consider that the following signal will have validity for all this week.
1.0334 and 1.0389 are weekly and monthly pivot points for this week for AUD/USD.
Signals for November 19 - 24, 2012
Buy if it rebounds around 1.0323 with take profit at 1.0436 and 1.0605, stop loss is bellow (W_S1).
Sell short if pullback is bellow 1.0450 with take profit 1.0323, stop loss above (W_R1).
_____WEEKLY_____
Weekly - R3 = 1.0607
Weekly - R2 = 1.0532
Weekly - R1 = 1.0436
Weekly Pivot = 1.0361
Weekly - S1 = 1.0265
Weekly - S2 = 1.0190
Weekly - S3 = 1.0094
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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
