US 10-year Treasury yield could reach 2.05/10% on a break above 1.80% – SocGen
|US 10-year Treasury yield is at a descending trend line drawn since last year at 1.74%. Economists at Société Générale believe that there is potential for 2.05/10% if the April high of 1.80% is overcome.
Support 1.59% – resistance 1.80%
“It is worth noting that it has formed an Inverse Head and Shoulders pattern which generally denotes an uptrend.”
“April high of 1.80% is an important hurdle. Once this is overcome, the swap rate would affirm further extension in ongoing up move towards 1.92% and perhaps even towards projections of 2.05%/2.10%.”
“First support is near 1.59%.”
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