AUD/USD – weekly pivot points and signals for January 21 – 26, 2013
The Australian dollar is trading below the weekly pivot of 1.0524. This level is considered the key point for the Aussie to continue moving upward to the level of 1.06 and up to the third weekly resistance 1.0658.
Therefore, this week there will be major moves for the Aussie, so we must monitor pivot points, we expect a decline of up to 1.0376 level, with the objective of covering the gap that had been left on December 30, 2012. This pair has a very strong upward trend; all reversal should be considered as an opportunity to purchase the pair. Therefore, we consider that the following signals will have validity for the whole week.
Signals for January 21 – 26, 2013
Buy if it closes above 1.0524 with take profit at 1.0618 and stop loss bellow 1.0524 (W_PPV).
Sell if it closes bellow 1.0524 with take profit at 1.0430 and 1.0376, stop loss is above 1.0620.
Weekly – R3 = 1.0658
Weekly – R2 = 1.0618
Weekly – R1 = 1.0564
Weekly Pivot = 1.0524
Weekly – S1 = 1.0470
Weekly – S2 = 1.0430
Weekly – S3 = 1.0376
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Monthly – R3 = 1.0768
Monthly – R2 = 1.0675
Monthly – R1 = 1.0529
Monthly Pivot = 1.0436
Monthly – S1 = 1.0290
Monthly – S2 = 1.0197
Monthly – S3 = 1.0051
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