After Friday’s US jobs report, US Treasury yields fell across the curve. This caused the benchmark 10-year yield to retest the area below the 6M resistance level at 4.417% and settle at the 3M support from 4.211%. The mentioned support level has acted as a familiar floor since May this year. Therefore, a rejection of this base could refocus attention on 4.417% as an upside target, while a breakout might open the possibility for price to decline towards a 1Y support at 4.038%.
Written by the FP Markets Research Team
Written by the FP Markets Research Team
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