The pivot points of the AUD / USD for this week are traced according to the following table shown below. The weekly chart offers availible points or areas of support or resitance levels. This chart will enable to make decisions concerning the placement of Take profit or Stop loss orders. These pivot levels are some sort of a trading map, so you will know beforehand the possible increases and declines of the pair.
Therefore it is recommended to open the short positions at the level R1 and long positions at the level S1. If the weekly pivot is considered as a target, it may prove to be a viable strategy for swing trading. The strategy can be used otherwise by opening long positions in S2 positions, and short R2 weekly with S1 or R1 seen as weekly targets or to the pivot point.
_____WEEKLY_____
Weekly - R3 = 1.0922
Weekly - R2 = 1.0779
Weekly - R1 = 1.0622
Weekly Pivot = 1.0479
Weekly - S1 = 1.0322
Weekly - S2 = 1.0179
Weekly - S3 = 1.0022
_____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
