The Pivot Point (PPV) can serve well as both support and resistance at the same time; it is the first level that we observe. For this week the pivot points (weekly and monthly) for AUD/USD are: 1.0528 weekly; 1.0379 monthly.
The Australian dollar is above the pivot weekly and the Moving Average of 200 periods (blue).
Therefore, the pivot points show the following.
The weekly resistance level 1.0620 has a very strong resistance; last week the pair reached the 1.0580 level near the 1.0620 resistance and decreased afterwards. In case the pair is overbought, is possible to enter a future sale in the weekly R1 level with weekly support targets until 1.0383.(W_S2).
_____WEEKLY_____
Weekly - R3 = 1.0765
Weekly - R2 = 1.0673
Weekly - R1 = 1.0620
Weekly Pivot = 1.0528
Weekly - S1 = 1.0475
Weekly - S2 = 1.0383
Weekly - S3 = 1.0330
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_____MONTHLY____
Monthly - R3 = 1.1098
Monthly - R2 = 1.0817
Monthly - R1 = 1.0660
Monthly Pivot = 1.0379
Monthly - S1 = 1.0222
Monthly - S2 = 0.9941
Monthly - S3 = 0.9784
