For this week the pivot points (weekly and monthly) for AUD/USD are: 1.0460 weekly; 1.0403 monthly.
The Australian dollar is below the pivot weekly and above the Moving Average of 200 periods (blue). Therefore, the pivot points show the following.
The weekly pivot level of 1.0460 serves as resistance, a close above this level can change the downtrend with targets set for the second resistance of 1.0650 (W_R2).
On the other hand, the downward pressure will continue to increase below the weekly pivot which aims to the third weekly support around 1.0173 (W_S3).
Signal For 24 - 28 September, 2012
Sell short at 1.0360 with take profit at 1.0270 and 1.0173, stop loss is above W_PV.
Buy long if rebound around weekly support at 1.0360 with take profit at 1.0460 and 1.0553, stop loss is bellow W_S2.
_____WEEKLY_____
Weekly - R3 = 1.0746
Weekly - R2 = 1.0650
Weekly - R1 = 1.0553
Weekly Pivot = 1.0460
Weekly - S1 = 1.0363
Weekly - S2 = 1.0270
Weekly - S3 = 1.0173
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_____MONTHLY____
Monthly - R3 = 1.0867
Monthly - R2 = 1.0740
Monthly - R1 = 1.0530
Monthly Pivot = 1.0403
Monthly - S1 = 1.0193
Monthly - S2 = 1.0066
Monthly - S3 = 0.9856
