The 10 year T Note is finding support along the 38.2% at 2.38. This level also coincides with the 20 MA on the Monthly chart which is on an uptrend.
The general uptrend movement from 2013 to now suggest that the recent selloff could be a consolidation ahead of a larger break to the upside.
The Fed has been hinting towards a possible rise in rates in the near future and the rhetoric may be confirmed during the October 29th meeting. Any suggestion of a reduction in the amount of bond purchases could trigger a rally in yields.