The AUDUSD tested key resistance today at the 0.8786 level but failed to break higher (high was 0.8790). The level corresponded with the 100 hour moving average (currently comes in at 0.8782). 

The pair is now trading at the 0.8737 level and moving toward trendline support at the 0.8713 level.  This level should attract some buying.

Like a lot of the markets today, the prices are respecting the support and resistance levels and consolidating.  When this happens, the ranges can be played until a breakout occurs.  The longer the consolidaiton the better chance for a bigger move when it finally does give way.