FXStreet reports that Karen Jones, Team Head FICC Technical Analysis Research, assess the performance of the US 10Y yields.

“The US 10Y yield dropped to the February 10 low at 1.12 before bouncing off it last week. Since this fall was accompanied by positive divergence on the daily RSI we expect further consolidation around the 200 day moving average at 1.28 to unfold over the coming days.”

“While resistance at 1.43/46 (the May low and mid-July high) caps, however, overall downside pressure should retain the upper hand.”

“Below the recent low at 1.12 lies major psychological support, the 61.8% Fibonacci retracement and the late January low at 1.00/0.99.”