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: 1.0340 weekly; 1.0403 monthly.
The Australian dollar is below the pivot weekly and bellow the Moving Average of 200 periods (blue). Therefore, the pivot points show the following.
The weekly pivot level of 1.0340 serves as resistance, a close above this level can change the downtrend with targets set to the first resistance of 1.0405 (W_R1).
On the other hand, the downward pressure will continue to increase below the weekly pivot which aims to the third weekly support around 1.0107 (W_S3).

Signal For 03 - 07 September, 2012

Sell short at 1.0340 with take profit at 1.0256 and 1.0191, Stop Loss at 1.0370

Buy long if close above WPP at 1.0345 with take profit at 1.0405 and 1.0489, Stop Loss is bellow the weekly pivot.

 _____WEEKLY_____
Weekly - R3 = 1.0554
Weekly - R2 = 1.0489
Weekly - R1 = 1.0405
Weekly Pivot = 1.0340
Weekly - S1 = 1.0256
Weekly - S2 = 1.0191
Weekly - S3 = 1.0107

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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