The pivot point is used as both support and resistance point 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: 1.0341 weekly; 1.0026 monthly.
The Australian dollar is located above the pivot weekly and bellow the Moving Average of 200 periods (blue).
Therefore, the pivot points show the following:
1) If the price set by the pivot point is broken in an upward motion, the market is bullish and, conversely, if the pivot point is broken in a downward motion, the market is bearish.
2) They can provide points of market entry and exit that can be quite useful for trading strategy. For example, a limit sell order can be placed on a level support for open if this support is broken and can put the stop loss for this order in one of the resistances.

Signal For 23 - 27 July
Buy long 1.0230 with Take Profit at 1.04810 and with the Stop Loss at 1.0200

 _____WEEKLY_____
Weekly - R3 = 1.0718
Weekly - R2 = 1.0580
Weekly - R1 = 1.0479
Weekly Pivot = 1.0341
Weekly - S1 = 1.0240
Weekly - S2 = 1.0102
Weekly - S3 = 1.0001

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_____MONTHLY____
Monthly - R3 = 1.1148
Monthly - R2 = 1.0702
Monthly - R1 = 1.0472
Monthly Pivot = 1.0026
Monthly - S1 = 0.9796
Monthly - S2 = 0.9350
Monthly - S3 = 0.9120