US10Y Double rejection. Targeting the 1D MA200.

The U.S. Government Bonds 10YR Yield (US10Y) has been trading within a Channel Down pattern ever since the October 21 2022 High and even though there might be a Diverging Channel Up (dashed lines) emerging, the current level makes a strong Resistance cluster.

With the 1D RSI also rejected twice on its Higher Highs trend-line, we are turning bearish on the US10Y again, targeting the 1D MA200 (orange trend-line), which supported the price twice on January 19 and February 02. Potential contact (as a target) can be made at 3.550%. We will continue to be bearish only if the 3.320% Support breaks.

Tradingview link:

https://www.tradingview.com/chart/US10Y/MlDi8x1W-US10Y-Double-rejection-Targeting-the-1D-MA200