AUD/USD resistance ahead noted just above 0.7240

Credit Suisse note the recent highs just above 0.7240 will act as resistance.

• AUD/USD remains in a rangebound environment
• our expectation of a lengthier consolidation phase above the crucial 'neckline' to the large 'head & shoulders' base at 0.7076
• its recent highs at 0.7243/46 … fresh selling is expected at this point as bears try to maintain the range, a break above here would end this range and see the upmove resume, with resistance seen thereafter at the late July and the 2019 high at 0.7284/95
• Support moves initially to 0.7132/29, which includes the 21-day exponential average, which ideally holds.
• Removal of here could see a fall back to the aforementioned 'neckline' at 0.7076, where we would expect to see a more important effort to hold

Some straightforward comments from CS, worth considering.