Technical Update - US 10 years Yields. Breaking key resistance, set for higher levels| FXMAG.COM

Source: Saxo Group

Monthly chart shows the Future dipped just below the key strong support at 114 21/32. A close below is needed for selling pressure to resume. If the US T-Note future closes below 114 20/32 next support is around 111 and strong support at 104.
RSI with a current value of 18.40, has not been this low since January 2000 showing massive oversold scenario. However, it should be noted that RSI can still drop further

Source: Saxo Group

The sell-off in the Treasury future means that the yields propelled higher above 3.4%. Minor correction should be expected but trend is up

Source: Saxo Group

Zooming out looking at the longer-term picture Yields have broken above 2018 peak at 3.25%. With just minor resistance around 4% US 10 Treasury yields could go to 4.38% in Q3 but no strong resistance until around 5.25% between 1.618 and 1.764 projection from the 2018-2020 down trend.
If that level is reached Yields will be back at pre-Financial crisis level

Source: Saxo Group

Source: Technical Update - US 10 years Yields. Breaking key resistance, set for higher levels | Saxo Group (home.saxo)

Kim Cramer Larsson

Kim Cramer Larsson started his career in 1996 as an equities trader focusing on the US and Asian markets with BG Bank, London. In 1997, Kim relocated to BG Bank, Copenhagen (BG Bank was acquired by Danske Bank in 2000) to the position of equities trader and portfolio manager.

Kim began using technical analysis as a trading tool from 1997. In 2005, Kim was promoted to the position of technical analyst in the FX & Fixed Income Research department at Danske Bank. In his current role, Larsson focuses on technical analysis of equities, equity indexes, forex pairs, and more for Saxo Bank. Larsson’s views and analyses can be found on Saxo’s News & Research hub as well as at Saxo’s Academy where he hosts webinars focusing on chart analysis.