The Australian dollar is trading below the weekly pivot of 1.0343. Currently it is under downward pressure. Weekly pivot level of 1.0229 will be the last support, which the pair must overcome and a break, because below this support it could quickly fall to the level of 1.0027, psychological level. The indicators are showing overbought area and this level is likely to stop the fall of the pair. Therefore, we recommend buying above 1.0229 with targets to 1.0343 pivot and if this level is exceeded, the following objectives will be up to 1.0431, the first weekly resistance and 1.0543.
Signals for January February 11 - 16, 2013
Buy above 1.0229 with take profit at 1.0343 (W_PPV) and 1.0545 (W_R2), stop loss is below 1.0141 (W_S2).
_____WEEKLY_____
Weekly - R3 = 1.0633
Weekly - R2 = 1.0545
Weekly - R1 = 1.0431
Weekly Pivot = 1.0343
Weekly - S1 = 1.0229
Weekly - S2 = 1.0141
Weekly - S3 = 1.0027
If you would like to get this indicator, feel free to contact me via e-mail: gerardo.porras@analytics.instaforex.com
_____MONTHLY____
Monthly - R3 = 1.0775
Monthly - R2 = 1.0686
Monthly - R1 = 1.0556
Monthly Pivot = 1.0467
Monthly - S1 = 1.0337
Monthly - S2 = 1.0248
Monthly - S3 = 1.0118
