FX.co ★ AUD/USD - Weekly and Monthly Pivot Points and signals- For 20 - 24 August , 2012

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: 1.0467 weekly; 1.0379 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 1.0467 serves as resistance, a close above this level can change the downtrend with objectives to the resistance of weekly (W_R2) strong level of 1.0630.
On the other hand, downward pressure will continue to increase below the weekly pivot which aims at the 200 day moving average period (blue) near the second weekly support at 1.0304 (W_S2).

Signal For 20 - 24 August 2012

Sell short at 1.0535 or sell below 1.0467 with take profit at 1.0362 and 1.0304, Stop Loss at 1.0630

_____WEEKLY_____
Weekly - R3 = 1.0688
Weekly - R2 = 1.0630
Weekly - R1 = 1.0525
Weekly Pivot = 1.0467
Weekly - S1 = 1.0362
Weekly - S2 = 1.0304
Weekly - S3 = 1.0199

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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