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12 Mar 2015
US 10-yr treasuries: 2.12% offers selling levels amid trendline breakout – RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, gives the technical outlook and key levels for US 10-yr treasuries, viewing that the current level offers selling opportunities for 2.30% and then 2.52%.
Key Quotes
“The market has broken the trendline, implying yield downside is limited from here: it is deemed unlikely that the yield would be below 2.00% and hence any pull-back to 2.12% (which is the current level marking the trendline and last week’s Marubozu candle pivot point) we see as selling opportunities for 2.30% and 2.52%.”
“Our long-term view is the same: 1.61/1.78% yield was considered to be a base and 3.00% targeted for the end of 2015.”
“Price-wise 127-19+ is a key resistance, looking for a pull-back to 124-30. Stop is a break above 128-05.”
“SUP: 126-18+ 125-24 124-29+”
“RES: 127-05+ 127-19+ 128-04+”
Key Quotes
“The market has broken the trendline, implying yield downside is limited from here: it is deemed unlikely that the yield would be below 2.00% and hence any pull-back to 2.12% (which is the current level marking the trendline and last week’s Marubozu candle pivot point) we see as selling opportunities for 2.30% and 2.52%.”
“Our long-term view is the same: 1.61/1.78% yield was considered to be a base and 3.00% targeted for the end of 2015.”
“Price-wise 127-19+ is a key resistance, looking for a pull-back to 124-30. Stop is a break above 128-05.”
“SUP: 126-18+ 125-24 124-29+”
“RES: 127-05+ 127-19+ 128-04+”