Technical Update - 10-year Yields ticking higher. US 10-years T-Note future and Euro Bund in confirmed downtrends
Kim Cramer Larsson
Technical Analyst, Saxo Bank
US 10-years Treasury Yields have tested the short term falling trendline from the upper side and is trying to move higher but seems to struggle a bit around 2.90%. If Yields move above 55 SMA it is likely to get momentum for higher levels with resistance at 3.11
The US 10-years Treasury Note is in a confirmed downtrend. 55 SMA is providing some support but no strong support before at 117 18/32.
To reverse the downtrend a close above 120 is needed.
Euro Bund has broken bearish out of rising channel and is testing support at 153.50. Downtrend is confirmed and a close above 156.88 is needed to reserve that picture.
Some support at 152.43 and strong support at around 150-149.75
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