On 4-hour chart, technical indicators reflect the relative calmness of the markets and sideways movement of the price.
Bollinger Bands and Stochastic’s lines are pointed sideways.
MACD volumes are in the negative zone and are moving along the zero line.
The breakout and consolidation of the price below the level of 0.7843 (Murray [1/8]) will let AUD/USD reach the levels of 0.7812 (Murray [0/8]), 0.7782 (Murray [-1/8]).
If the price is set above the level of 0.7873 (Murray [6/8]), which corresponds to the upper line of Bollinger Bands, the upward trend can restore. In this case, the next targets of buyers will be the level of 0.7904 (Murray [3/8]), 0.7934 (Murray [4/8]).
Support and resistance
Support levels: 0.7843, 0.7812, 0.7782.
Resistance levels: 0.7873, 0.7904, 0.7934.
Short positions can be opened below the level of 0.7843 with the targets at around 0.7812-0.7782 and stop loss 0.7860.
Long positions can be opened above the level of 0.7873 with the targets at around 0.7904-0.7934 and stop loss 0.7850.