Forex Flash: 10-year US treasuries hold bias for breakout – RBS

According to Technical Markets Strategist Dmytro Bondar at RBS, “The 10-year Treasury market remained in a range between the 250-day MA support and 132-00 resistance, as the 10/3/3/3 slow stochastic formed a positive crossover in the oversold region. The 250-day MA has proved to be a good support, as the price started the make higher highs over the last few sessions.”

“Overall, it suggests the market will likely see a gradual recovery. There is however, a chance of dipping towards the 131-11/15 before going higher towards the 132-1/16 – these levels include the Fibonacci projections from the December 2012 impulse wave.” Bondar adds.