Since the start of the new year we have shared a couple updates on the US Dollar and 10-Year US Treasury Bond Yield… both bullish price reversals from a trading standpoint.
For the US Dollar Index, it could simply be a counter-trend trade. We’ll need more time to see…
That said, the US Dollar Index created an MFU-2 target at 107 with its move over 103.80 this week. Note that the 200-day moving average is just below that mark so that area will be resistance.
Looking at the 10-Year Treasury Bond Yield, it appears that this move could be the start of another big wave higher. We highlighted this reversal last week and today is simply an update. A recent breakout of the downtrend line has bond yields (interest rates) eyeing a new upside target of 5.5%. Yikes!
US Dollar Index and 10-Year Treasury Bond Yield Charts
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