7 Feb 2014
Flash: US 10-Year Yield oversold, rebound imminent? - UOB Group
FXStreet (London) - Quek Ser Leang, Market Strategist at UOB Group comments that the US 10-year yield appears oversold and a rebound appears imminent.
Key Quotes
“The drop from the high of 3.041 earlier this year appears to be overdone and oversold. While extension lower is not ruled out, a move above the trend-line resistant at 2.720 could lead to a quick move higher towards the middle of the Daily Envelope at 2.790.”
“Expect short-term pullback to stay above 2.599 but only a clear break below 2.570 will suggest a move lower towards the October’s low at 2.473.”
Key Quotes
“The drop from the high of 3.041 earlier this year appears to be overdone and oversold. While extension lower is not ruled out, a move above the trend-line resistant at 2.720 could lead to a quick move higher towards the middle of the Daily Envelope at 2.790.”
“Expect short-term pullback to stay above 2.599 but only a clear break below 2.570 will suggest a move lower towards the October’s low at 2.473.”