US 10-Year Treasury Note Futures – Breakout ahead? [Video]
|US 10-Year Treasury Note futures have bounced off oversold technical indicators and rallied towards the 55-day moving average at 106.15, a key resistance level that needs to be broken to sustain the upward momentum.
Prices are currently swinging above the daily Pivot Point, and a confirmed break above the 55-day moving average could trigger the next move higher, initially targeting 107.01, followed by 107.23.
For today's trading, the daily Pivot Point at 106.00 will, as always, act as an important swing level, helping determine the market's intraday direction.
If prices fail to maintain a position above 106.00, we could see renewed selling pressure, with 105.16/15 becoming the next area to watch on the downside.
Key trading levels
- Resistance: 106.15 → 107.01 → 107.23.
- Daily Pivot: 106.00.
- Support: 105.16/15.
The key question now is whether Treasury Note futures can break through the 55-day moving average and extend their recovery, or whether resistance will bring sellers back into the market.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.