FXStreet (Barcelona) – Dmytro Bondar, Technical Analyst at RBS, sees risks for US 10-yr treasury yields tilted to the downside and hence suggests selling any rallies from 2.35%.
Key Quotes
“The market remains sideways after rejecting the 2.26% resistance which, coupled with neutral momentum oscillators, indicate the range-bound market within the 2.26% – 2.50% boundaries are to remain in place. Long-term, a close above 2.40% negated gap support and hence served as a bearish signal, indicating risks are getting skewed to the downside, implying a break of 2.49% opening to 2.64%. I believe the long-term risks are skewed to the downside from now on, hence favour selling rallies from 2.35% as opposed to buying dips from 4.49%.”
(Market News Provided by FXstreet)