25 Mar 2015
Treasuries: Daily momentum bullish – RBS
FXStreet (Barcelona) - William O'Donnell, Head of US Treasury Strategy at RBS, gives the technical outlook for 2s, 5s, 10s and 30s US treasury yields, noting that the daily momentum stands bullish.
Key Quotes
“2s (0.575%)- Next major support doesn't emerge until ~0.80% where we found buyers back in the spring of 2011. Resistance seen at 0.40% where we'd close a gap left behind in late October. Daily momentum is still mildly bullish.”
“5s (1.36%)- Next major support comes in at 1.80% and just above. Next resistance begins at ~1.30% and extends down to major resistance at 1.15%. Daily momentum is still bullish but now flashing overbought readings.”
“10s (1.86%)-Next resistance comes in some congestion in and around 1.80% then the low yields of 1.64%. Next support comes in ~2.40% with major support at 2.66% after that. Daily momentum is still bullish but looking overbought.”
“30s (2.454%)- Bonds don't have any solid support until 3.105%, the November "lows." Next resistance around 2.40%. Daily momentum is still bullish but momentum is now into overbought readings.”
Key Quotes
“2s (0.575%)- Next major support doesn't emerge until ~0.80% where we found buyers back in the spring of 2011. Resistance seen at 0.40% where we'd close a gap left behind in late October. Daily momentum is still mildly bullish.”
“5s (1.36%)- Next major support comes in at 1.80% and just above. Next resistance begins at ~1.30% and extends down to major resistance at 1.15%. Daily momentum is still bullish but now flashing overbought readings.”
“10s (1.86%)-Next resistance comes in some congestion in and around 1.80% then the low yields of 1.64%. Next support comes in ~2.40% with major support at 2.66% after that. Daily momentum is still bullish but looking overbought.”
“30s (2.454%)- Bonds don't have any solid support until 3.105%, the November "lows." Next resistance around 2.40%. Daily momentum is still bullish but momentum is now into overbought readings.”