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Flash: 10-year US treasuries find support – RBS

FXstreet.com (Barcelona) - A major selloff of 10-year US Treasuries on increasing volume confirms a long-term bearish view.

However, “in the short-term, the market has reached a strong support level of 129-18+, where it would be likely to pause the selloff for the time being and potentially make the market to bounce back to the 130-15 / 131-00 region, formed by Fibonacci retracements from February-April impulse wave and filled-not- closed gap from late March.” writes Technical Strategist Dmytro Bondar at RBS.

In addition, “As the 10/3/3/3 slow stochastic started to show signs of a positive divergence (failure swing) in the oversold region. Overall, favor selling rallies to the gap region stopping through the 131-15 retracement targeting 128-05.” Bondar adds.

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AUD/USD is remaining in a tight range, oscillating between 0.9616/34 after a very short-lived spike higher to 0.9672.
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