The pivot points of the AUD / USD for this week can be defined according to the following table shown below. The weekly chart offers possible points or zone where the price of the pair find support or resistance, this chart will help you make decisions such as: where place the profits of an order, or a possible stop loss. These pivot levels can serve as a trading map enabling to define beforehand when the pair goes upwards or downwards.
Thus, for this week short positions are recommended at the level R1, long positions - at the level S1 long. If the weekly pivot is considered as a target, it may prove to be a viable strategy for swing trading. The other way of using this strategy is to open long positions at the level S2 and short positions at the level R2 with S1, R2 or the pivot point seen as the targets.
_____WEEKLY_____
Weekly - R3 = 1.0943
Weekly - R2 = 1.0843
Weekly - R1 = 1.0709
Weekly Pivot = 1.0609
Weekly - S1 = 1.0475
Weekly - S2 = 1.0375
Weekly - S3 = 1.0241
_____MONTHLY____
Monthly - R3 = 1.1155
Monthly - R2 = 1.1006
Monthly - R1 = 1.0868
Monthly Pivot = 1.0719
Monthly - S1 = 1.0581
Monthly - S2 = 1.0432
Monthly - S3 = 1.0294
