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: 1.0561 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 of 1.0626 has a very strong resistance. Last week the pair reached the 1.0610 level near the resistance of 1.0626 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 1.0445 (W_S2).

Signal For 13 - 17 August 2012

Sell short 1.0590, Take Profit at 1.0445, Stop Loss at 1.0630

 _____WEEKLY_____
Weekly - R3 = 1.0742
Weekly - R2 = 1.0677
Weekly - R1 = 1.0626
Weekly Pivot = 1.0561
Weekly - S1 = 1.0510
Weekly - S2 = 1.0445
Weekly - S3 = 1.0394

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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